Globalisation Flashcards
Understand key concepts of our globalisation unit.
sustainable
sustainability, sustain
Being able to continue without harm to animals, people, or the environment.
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supply chain
All of the parts that go into making a product or service and where they come from.
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consumer
consumerism, consume, consumption
In an economy, this is who buys products and services.
corporation
related vocabulary - multinational corporation, conglomerate
A large business owned by many investors, often operates in many countries. There may be several companies under this business name with many different goods and services.
disposal
dispose, disposing, disposed
The act of getting rid of something after it is no longer needed. This is the final stage of the production cycle.
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distribution
distribute
Moving a product from the factory to many locations so the consumer can buy it.
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ethics
ethical, ethicality
How you are supposed to behave according to society’s morals and values. In our study we are focused on acting in a way that does not harm people or the environment.
extraction
extract, extraced, extracting
Removing materials from the earth to be used in production of a product or service.
goods and services
The items a corporation or business sells. A company can sell goods, or services. A “good” is something you can actually see and touch, such as a hamburger, a golf ball, shoelaces, etc. A “service” is something someone does for you, such as a haircut, a flight to Canada, washing your clothes, etc.
greenwashing
greenwashed
Trying to make a product or service sound like it is environmentally friendly when it is not.
labor (labour), also ‘employee’.
worker, labourer,
This word refers to workers. This means the people who work for a corporation. To say “forced labour” would mean to say someone is being forced to work and they are not getting paid enough, or not able to leave
monopoly
monopolise,
When one corporation can control prices because it is the consumer’s only choice.
production (also manufacturing)
produce, manufacture
In economics, the putting together of products that will be sold.
supply-demand
Economic rules affecting how much something costs.
tax, taxes, taxation, tax rate
Money collected by a government to pay for services that it does not want to put in the hands of a corporation/business/company, (e.g. health care).
The Materials Economy.
This is also known as ‘The Production Cycle’
The life cycle of a product: extraction, production, distribution, consumption, and disposal
Learn more by watching this video and/or completing this assignment.
union (to unionise)
An organisation of workers (employees, labourers) who negotiate with employers as a group to improve working conditions
shareholder
related terms: stockholder, investor, shares, stocks, stock market
A person who owns part of a corporation by purchasing stocks.
What is globalisation?
How the world is now interconnected and dependent, often through industries, trade, technology, and migration. It’s how actions in one place have effects in other locations.
True or False: Globalization only refers to economic interactions between nations.
What is the globalisation question to which the answer is “false”?
