Globalisation Flashcards
What is globalisation?
The process where the world is becoming increasingly interconnected
What factors are involved in globalisation?
Movement of people
Trade
Communication and transport
Environmental problems
Politics
Why isn’t everyone in the world equally interconnected?
Countries find conections with stronger countries (eg. superpowers) to be more useful than small countries, so they focus their interests on the more influential countries instead of the less developed ones
What is meant by the term trade?
Buying and selling goods and/or services
What is meant by TNC?
Trans-National-Corporation: a company thay oporates in multiple countries
What is meant by Foreign investment?
When a company or country invests in projects abroad
What is meant by labour?
To work, especially physical work
What is meant by development aid?
Money, goods or help given to a country to help them improve their country
What is meant by the term economic blocs?
Agreements where groups of countries agree to reduce taxesfor goods and services traded between those countries
What is meant by the term transport?
Carrying people or goods from one place to another by a vehicle, aircraft or ship
What is meant by information technologies
Systems for sending, storing and receiving information
What is the main cause of globalsation?
- Countries becoming more dependent on others for social, economic and enviornmental gain
What factors have accelerated globalisation?
TNCs
Trade blocs
Improved communication
New markets
What is the global economy?
The connectedness of individual countries economies to form 1 single economic system
What 5 forms of flow does a global economy include?
Trade
Aid
Foreign investment
Labour
Information