Globalisation

Question 1

What is Globalisation

Answer 1

The breaking down of trade barriers to promote the free movement of goods and services, labour and capital to form a global economy

Question 2

What are the 7 causes of globalisation

Answer 2

Transportation
Communication
Trade liberalisation
Multinational Enterprises
International Capital markets
Foreign Direct Investment
Trade Agreements

Question 3

What are the 5 positive results of globalisation

Answer 3

Economic Growth
Employment
Foreign Direct Investment
Balance of Payments
Poverty alleviation

Question 4

What are the 5 negative consequences of globalisation

Answer 4

Economic Costs
Social Costs
Health Issues
Environmental Costs
Indigenous Knowledge Systems

Question 5

What are the 7 comparative advantages of free trade

Answer 5

Economic Growth
Employment
Increased standard of living
Reduced cost of living
Increased inclusion
Human development
Emergence of a global community

Question 6

What are the 11 disadvantages of free trade

Answer 6

Increased income gap
Uneven distribution of wealth
Increased poverty
Different wage standards for developing countries
Economic instability
Financial instability
Exploitation of labour
Environmental deterioration
Marginalisation of developing countries
Unfair subsidization
Risk of diseases

Question 7

What are the causes of the North / South divide (8)

Answer 7

Capitalism
Globalisation
Immigration
Rate of development
Emergence of economic powers
International infrastructure
New technologies
Financial aid and debt

Question 8

LOOK AT CHARACTERISTICS ON PAGE 61

Answer 8

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