GLOBAL INTERDEPENDANCE Flashcards
visible goods
physical existence of goods
invisible goods
services - intangible goods
trade
exchange of goods or services
imports
total value of goods into a country
export
good or service sold to another country
balance of trade
difference in value between imports and exports
deficit
imports>exports
surplus
imports
tourism motivations
reason people travel
Soft measures
eg. tourism internet sites and support for trade fairs
Hard measures
incentives for forgein investment
sustainable tourism
Tourism that does not destroy what it sets out to explore
why is sustainable tourism difficult to achieve? (3)
- governments often reluctant to admit actual tourist numbers because they are desperate for forgein currency
- local people can’t compete with forgein multinationals on price and marketing
- difficult for forgein developers to consult local people
multiplier effect
introduction of a new industry or the expansion of an existing industry in an area also encourages growth in other industrial sectors
multiplier effect
introduction of a new industry or the expansion of an existing industry in an area also encourages growth in other industrial sectors (benefiting the economy through job creation and supply chain)