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GLOBAL GOVERANCE > Globalisation > Flashcards

Globalisation Flashcards

1
Q

What is globalisation?

A

The increasing interconnectedness of the world’s economic, cultural and political systems.

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2
Q

What are 3 common themes for globalisation?

A

Economic
Social
Political

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3
Q

What is happening more than ever in history?

A

Globalisation

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4
Q

List 4 examples of why globalisation is leading to a shrinking world.

A

Technological advances
Transportation
Economies of scale
FDI

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5
Q

What are 3 factors that increase globalisation?

A

Expansion of TNCs
The economy
Development of Transport

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6
Q

Where can TNCs be found now?

A

Clone Towns like Totnes

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7
Q

What is a TNC?

A

Trans-national company/corporation

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8
Q

What is an example of a TNC?

A

Mcdonalds

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9
Q

What is a MNC?

A

Multi-national corporation

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10
Q

Where do MNCs operate?

A

2 or more countries

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11
Q

What effect do MNCs have on emerging markets?

A

Similar effect like TNCs

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12
Q

How has the development of transport increased globalisation?

A

Growth of budget airlines
More road networks

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13
Q

What are 3 economic factors that increase globalisation?

A

The rise of TNCs
Promoting business start-ups
Increased awareness of competitive advantage

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14
Q

What does increased awareness of competitive advantage mean?

A

An economy’s ability to produce a good at a lower opportunity cost than its partners

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15
Q

What is opportunity cost?

A

The potential benefit lost by choosing one option over another

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16
Q

What is a node?

A

Points on a network and are often cities and major towns

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17
Q

What are connections between nodes called?

A

Flows

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18
Q

What are places with many flows called?

A

Global hubs

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19
Q

What is an example of capital flow?

A

Use of cards and bank transfers

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20
Q

What is an example of labour flows?

A

People can get around easily for work

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21
Q

What is an example of information flows?

A

People can access info at any time.

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22
Q

What does interdependence mean?

A

The state of being dependent upon one another

23
Q

What does cross-border transactions mean?

A

Financial transactions that occur between parties located in different countries.

24
Q

What does international credit flow mean?

A

The transfer of financial assets such as cash and stocks across borders internationally.

25
Q

What does diffusion of technology mean?

A

A theory that seeks to explain how, why and at what rate new ideas and technology spread.

26
Q

What are the 5 flows?

A

Capital
Labour
Info
Services
Products

27
Q

What does the periphery model assume?

A

That global power is concentrated in the hands of MEDCs known as the ‘core’ and LEDCs known as the ‘periphery’.

28
Q

Name the BRICs countries

A

Brazil
Russia
India
China
South Africa

29
Q

What are the BRICS?

A

A nation with an economy that is progressing towards developed status.

30
Q

Name the MINT countries

A

Mexico
Indonesia
Nigeria
Turkey

31
Q

What are the BRICS & MINT countries doing?

A

Outperforming the developed world

32
Q

What are remittances?

A

Money sent home to friends and family by migrants living in a different location.

33
Q

What is foreign direct investment (FDI)?

A

Investment made by overseas governments, businesses, TNCs in foreign enterprises.

34
Q

What has happened in Greece in 2008?

A

Financial crisis

35
Q

What is the IMF?

A

International Monetary fund

36
Q

What is repatriation of profits?

A

TNCs operating in foreign countries will normally send any profits made back to the headquarters.

37
Q

What else is repatriation of profits known as?

A

Economic leakage

38
Q

What is containerisation?

A

A system of transport that uses containers to transport goods.

39
Q

What is marketing?

A

The process of promoting and selling products or services

40
Q

What does global marketing involve?`

A

Treating the world as one single market

41
Q

What is an example of global marketing?

A

Autoglass

42
Q

What does global marketing give businesses?

A

Economies of scale

43
Q

What do economies of scale refer to?

A

The cost advantages a company gains with the increase in production and becomes more efficient

44
Q

What can global marketing create?

A

Global brand awareness

45
Q

Why does marketing need to be adapted?

A

To regional markets through glocalisation

46
Q

What percentage of the world recognises Coca Cola’s logo?

A

94%

47
Q

How did Coke develop its global brand strategy by going from print advertising to digital?

A

Debranding

48
Q

What is a global shift?

A

The changing location of secondary industries around the world.

49
Q

Name 2 things businesses consider when choosing where to locate.

A

Skilled workforce
Access to markets

50
Q

What is outsourcing?

A

Delegating tasks to a third-party business

51
Q

What is offshoring?

A

Moving jobs or operations to another country.

52
Q

What are outsourcing and offshoring affecting?

A

Patterns of production, distribution and consumption

53
Q
A

GLOBAL GOVERANCE (2 decks)

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