Globalisation

Question 1

What is globalisation?

Answer 1

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

Question 2

What are 3 common themes for globalisation?

Answer 2

Economic
Social
Political

Question 3

What is happening more than ever in history?

Answer 3

Globalisation

Question 4

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

Answer 4

Technological advances
Transportation
Economies of scale
FDI

Question 5

What are 3 factors that increase globalisation?

Answer 5

Expansion of TNCs
The economy
Development of Transport

Question 6

Where can TNCs be found now?

Answer 6

Clone Towns like Totnes

Question 7

What is a TNC?

Answer 7

Trans-national company/corporation

Question 8

What is an example of a TNC?

Answer 8

Mcdonalds

Question 9

What is a MNC?

Answer 9

Multi-national corporation

Question 10

Where do MNCs operate?

Answer 10

2 or more countries

Question 11

What effect do MNCs have on emerging markets?

Answer 11

Similar effect like TNCs

Question 12

How has the development of transport increased globalisation?

Answer 12

Growth of budget airlines
More road networks

Question 13

What are 3 economic factors that increase globalisation?

Answer 13

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

Question 14

What does increased awareness of competitive advantage mean?

Answer 14

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

Question 15

What is opportunity cost?

Answer 15

The potential benefit lost by choosing one option over another

Question 16

What is a node?

Answer 16

Points on a network and are often cities and major towns

Question 17

What are connections between nodes called?

Answer 17

Flows

Question 18

What are places with many flows called?

Answer 18

Global hubs

Question 19

What is an example of capital flow?

Answer 19

Use of cards and bank transfers

Question 20

What is an example of labour flows?

Answer 20

People can get around easily for work

Question 21

What is an example of information flows?

Answer 21

People can access info at any time.

Question 22

What does interdependence mean?

Answer 22

The state of being dependent upon one another

Question 23

What does cross-border transactions mean?

Answer 23

Financial transactions that occur between parties located in different countries.

Question 24

What does international credit flow mean?

Answer 24

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

Question 25

What does diffusion of technology mean?

Answer 25

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

Question 26

What are the 5 flows?

Answer 26

Capital Labour Info Services Products

Question 27

What does the periphery model assume?

Answer 27

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

Question 28

Name the BRICs countries

Answer 28

Brazil Russia India China South Africa

Question 29

What are the BRICS?

Answer 29

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

Question 30

Name the MINT countries

Answer 30

Mexico Indonesia Nigeria Turkey

Question 31

What are the BRICS & MINT countries doing?

Answer 31

Outperforming the developed world

Question 32

What are remittances? Capital Flows

Answer 32

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

Question 33

What is foreign direct investment (FDI)? Capital Flow

Answer 33

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

Question 34

What has happened in Greece in 2008?

Answer 34

Financial crisis

Question 35

What is the IMF?

Answer 35

International Monetary fund

Question 36

What is repatriation of profits? Capital Flow

Answer 36

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

Question 37

What else is repatriation of profits known as?

Answer 37

Economic leakage

Question 38

What is containerisation? Product Flow

Answer 38

A system of transport that uses containers to transport goods.

Question 39

What is marketing?

Answer 39

The process of promoting and selling products or services

Question 40

What does global marketing involve?`

Answer 40

Treating the world as one single market

Question 41

What is an example of global marketing?

Answer 41

Autoglass

Question 42

What does global marketing give businesses?

Answer 42

Economies of scale

Question 43

What do economies of scale refer to?

Answer 43

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

Question 44

What can global marketing create?

Answer 44

Global brand awareness

Question 45

Why does marketing need to be adapted?

Answer 45

To regional markets through glocalisation

Question 46

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

Answer 46

94%

Question 47

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

Answer 47

Debranding

Question 48

What is a global shift?

Answer 48

The changing location of secondary industries around the world.

Question 49

Name 2 things businesses consider when choosing where to locate.

Answer 49

Skilled workforce Access to markets

Question 50

What is outsourcing?

Answer 50

Delegating tasks to a third-party business

Question 51

What is offshoring?

Answer 51

Moving jobs or operations to another country.

Question 52

What are outsourcing and offshoring affecting?

Answer 52

Patterns of production, distribution and consumption