Globalisation

Question 1

What are some examples of flows between countries?

Answer 1

Culture
People
Trade
Money eg investments
Technology 
Medicine

Question 2

What is capital flows?

Answer 2

Any type of movement of money, loan and investment
FDI, foreign direct investment
Aid
Remittance payments

Question 3

What is a trade bloc?

Answer 3

Free trade, no tax or tariff between countries eg EU

Question 4

Whats considered a flow of service?

Answer 4

Finance
Construction
Engineering
Shipping

Question 5

Whats considered a flow of information?

Answer 5

Business
Research
Language
Culture

Question 6

What is global marketing?

Answer 6

Marketing on a global scale, global operation.

Eg advertising, media planning, market research, public relations

Question 7

What share of high income countries live in extreme poverty?

Answer 7

1%

Question 8

What % of the population don’t have enough food to meet their daily needs?

Answer 8

11%

Question 9

What % of companies have a women’s leader?

Answer 9

18%

Question 10

Is the gap between MEDCs and LEDCs growing or decreasing?

Answer 10

Growing

Question 11

Whats the average that people live on a month in Indonesia?

Answer 11

$100-$300

Question 12

What countries are experiencing high GDP growth rate?

Answer 12

China, Africa, India

Question 13

What type of countries are China, Africa and India?

Answer 13

Periphery

Question 14

What countries are core countries?

Answer 14

USA

UK

Question 15

Which countries are experiencing low GDP rates?

Answer 15

USA

UK

Question 16

Whats happened to poverty in sub-saharan Africa?

Answer 16

Remains at 50%, same as in 1981

Question 17

How many people live on less then $10 a day according to the world bank?

Answer 17

1.4 billion

Question 18

Whats the gini coefficient?

Answer 18

A scale between 1-10 which expresses the level of inequality within a country

Question 19

What does 0 on the gini coefficient scale mean?

Answer 19

Perfect equality, national income is equally divided

Question 20

Why do countries trade?

Answer 20

To make money
Maintain relationships and alliances
Allow cheaper labour costs

Question 21

What is comparative advantage?

Answer 21

An economic law referring to the ability of any given economic factors to produce goods and services at a lower cost

Question 22

What is meant by protectionism?

Answer 22

Involves any attempt by a country to impose restrictions on trades of goods and services

Question 23

What are some examples of barriers to trade?

Answer 23

Import license
Import quotas
Subsides

Question 24

What is fair trade?

Answer 24

Made to help small scale farmers to allow them to earn an income through consumers paying a premium for the product

Question 25

What is free trade?

Answer 25

Trade with no tariff or any type of protection

Question 26

When was the world trade organisation made?

Answer 26

1995

Question 27

What countries export bananas?

Answer 27

Columbia
Ecuador
Honduras

Question 28

Who import bananas?

Answer 28

Germany
EU
USA

Question 29

What are some benefits of growth on developing countries?

Answer 29

Higher value exports
Improves living standards
Becomes more diverse
Improves infrastructure

Question 30

What are some costs of trade on developing countries?

Answer 30

Inequalites in income can increase
TNC take profits from country
TNC pay workers low wages