Globalisation

Question 1

Define globalisation

Answer 1

The processes by which people, their cultures, money, goods and information can be transferred between countries with few or no barriers

Question 2

What is a TNC

Answer 2

Companies that operate in several companies

Question 3

Why would a TNC choose to operate in a different country? x4

Answer 3

Cheap labour
Access to raw materials
Friendly governmental policies eg. environmental or tax
A local demand for a service or product?

Question 4

What are the different types of globalisation?

Answer 4

Political
Technology
Financial
Cultural
Economic

Question 5

What is political globalisation?

Answer 5

The idea that ideologies are spreading and the western world is modelling the way countries are ran as the belief of western democracy is most successful.

Countries try to adopt similar policies and styles of government to

Question 6

What is technological globalisation?

Answer 6

Connection between countries/people due to the development of technology. Used to be exclusive for the rich but now is more accessible due to less infrastructure needed eg. laptops and mobile phones.

Question 7

What is financial globalisation?

Answer 7

Interconnection of the world’s stock markets
TNCs spread global capitalism around the world
Rapid growth of world trade

Question 8

What is cultural globalisation

Answer 8

Unifying people globally as we now eat similar food, wear similar clothes etc..
The Simpsons is show in over 200 countries worldwide

Leading to cultural erosion

Question 9

What is economic globalisation?

Answer 9

The worldwide economic system permits easy movement of goods, capital, production and resources due to free trade etc..

Question 10

What are the flows of globalisation?

Answer 10

Capital - stock markets + consumerism

Commodities - cheap produce + transport

Information - development of tech, especially the internet

People - Tourism due to budget airlines

Question 11

How are different economies affected by globaisation

Answer 11

LIC - Isolated due to limited connections rely on local produce and subsistence lifestyles

MIC - Poor rely on local produce but work for MNCs leading to global, political and cultural awareness

HIC - High levels of consumerism. Well travelled and aware of global societies.

Question 12

What is time space compression?

Answer 12

As the time taken to travel and time taken to access information and money due to heightened connectivity the world seems to feel closer.

Also called the shrinking world affect