Globalisation

Question 1

What is globalisation?

Answer 1

Globalisation is the interdependence between different economies exchanging goods, services , investment and labour

Question 2

What is a global market?

Answer 2

A global market is a place where you can buy and sell goods and or services anywhere(or virtually) all around the world.

Question 3

What is developing market(Emerging economy)?

Answer 3

A developing market(Emerging economy ) is a country where it has a growing consumption population and a growing economy.

Question 4

What is trade liberalisation ?

Answer 4

Trade liberalisation is the removal of trade barriers(Tariffs,Quotas)

Question 5

Benefits and cons of trade liberalisation ?

Answer 5

PRO:
More trade
Better standard of living
Increased competition
CON:
Unemployment
Market domination
Environmental concerns

Question 6

Benefits and cons of globalisation?

Answer 6

PRO:
Access to cheaper raw materials
Easier to trade
Cheaper labour
Change to location

CONS:
Competition
Exchange rates
High cost production
Unethical

Question 7

What is global branding ?

Answer 7

Global branding is the strategic process of creating and maintaining a consistent brand image across multiple countries and cultures to establish a unified identity worldwide.

Question 8

Methods of global growth?

Answer 8

Horizontal,vertical integration
Mergers
Takeovers
Conglomerate takeovers