Globalisation Flashcards
Define globalization.
How the world is interconnected via trade, money, communication etc.
What are the 5 types of globalization?
Technology, Communications, Economic, Messages, Environmental
What are the flows in Globalization?
TNCs, Trade, Transport, Containerization
What are economies of scale?
Economies of scale is when buying in bulk results to lower costs
(MIGRATION) what is a push factor of migration?
A push factor is what makes a person/group leave E.G- War, corruption
(MIGRATION) What is a pull factor of migration?
A pull factor is what makes people move/migrate E.G- better healthcare, better jobs/education
Give an example of a TNC
Shell is a massive TNC which operates in Lagos, Nigeria. They operate in Nigeria because they can exploit workers due to low labor costs.
What is time-space compression?
Time press compression is the idea of a shrinking world due to advances in transport and how fast you can get to places (rapid travel)
What is meant by the term ‘De-regulation’?
De-regulation is the process of removing government rules/laws
What is meant by the term ‘regulation’?
Regulations are rules/laws set by the government
What is containerization?
Containerization is when lots of containers on a ship reduces costs.
What is an advantage of globalization?
1) You can communicate faster
2) You can travel faster
3) companies can get richer
what is a disadvantage of globalization?
1) if you communicate via social media, your data could be stole and used
2) travelling can pollute the earth
3) some people lose out
What is free trade?
free trade is a policy where a government does not interfere with trade (imports and exports).
What is a tariff?
A tariff is a tax on imports
what is a quota?
A quota is a limit on the quantity of a goods, a country allows into the country.
What does the KOF index measure?
The KOF INDEX measures how globalized countries are
What does the AT Kearney Index measure?
The AT Kearney Index measures how globalized cities are
What is a switched on place?
A switched on place is a nation/region/city which is strongly connected to other places with significant global flows
what is a switched off place?
A switched off place is a nation/region/city which is not connected to other places with little to no global flows
What is JIT (Just-in-Time)
When a delivery is made Just in time for manufacturing, This leads to less/no storage needed.
What is off-shoring?
off-shoring is when a company does work overseas, either itself or another company
What is out-sourcing?
Out-sourcing is when work is contracted out to another company. (known as off-shoring when company is overseas)
What is a SEZ?
SEZ (special economic zones) are areas which companies have no restrictions