Globalisation Flashcards
Containerisation began in the…
1950s
Easyjet was established in the…
1990s
Difference between outsourcing and offshoring
Outsourcing is when a company hires another company to carry out a task for them
Offshoring is when a company moves part of their own production to another country to reduce costs
containerisation reduced the unit cost of international transport from…
30% to 1%
protectionism means…
policies to protect a country’s businesses from foreign competition
tariffs are…
tax on imports (paid by consumers)
quotas are…
physical limits on the quantity of imports
subsidies are…
financial assistance to a business by the government so the cost of the product can be lowered
privatisation is…
TNCs take ownership of state-owned businesses to maximise efficiency and profits
Controversy around the WB…
All WB presidents have been American
