Globalisation

Question 1

Globalisation

Answer 1

The growing integration and interconnectedness of the world economy

Question 2

4 causes of globalisation

Answer 2

1. growing importance of internal trade
2. technological change
3. transport and containerisation
4. growing importance of MNCs

Question 3

What does “growing importance of internal trade” mean in globalisation?

Answer 3

more goods are imported and exported as countries specialise in those goods to have a comparative advantage.

Question 4

What does “growing importance of MNCs” mean in globalisation?

Answer 4

Multinational corporations are increasingly operating across the world, providing similar products to people in many different countries.

Question 5

What does technological change mean in globalisation

Answer 5

Improvements in communication technology allowing info to flow quicker and cheaply, to allow production to take place across countries and opening world markets.

Question 6

what does transportation and containerisation mean in globalisation.

Answer 6

the cost of sea transportation has fallen dramatically as a result of more efficient methods.

Question 7

2 causes of globalisation for less developed countries

Answer 7

1. rising incomes

2. significant job creation

Question 8

3 causes of globalisation for more developed countries

Answer 8

1. loss of jobs due to deindustrialisation
2. reduced domestic monopoly due to competition from abroad
3. increased inflow of profits and interest.