Globalisation

Question 1

Definition of globalisation

Answer 1

the process by which businesses or other organizations develop international influence or start operating on an international scale.

Question 2

communication links in globalisation

Answer 2

-cable television
-the internet and email
cell phones

Question 3

Advantages of globalisation

Answer 3

• speedy access to foreign goods and services is likely to increase our standard of living
  -globalization will eradicate poverty
  -technology transfer to the caribbean will be expedited.

Question 4

Disadvantages of globalisation

Answer 4

-the developed countries of the north have superior technology and enjoy economies of scale. Caribbean countries may find it difficult to compete.
-there may be balance of trade and balance of payment deficits.
-there may be a negative impact on the environment.
-there may be an increase in money laundering and the illicit drug trade.

Question 5

Foreign Direct Investment

Answer 5

occurs when a person (or company) from one country makes an investment in a company.(entity)