Globalisation Flashcards
What is globalisation?
Globalisation is the process by which businesses or other organizations develop international influence or start operating on an international scale.
True or False: Globalisation only affects developed countries.
False
Fill in the blank: Globalisation has increased the _______ of goods and services across countries.
trade
What is one positive effect of globalisation?
Increased access to goods and services from around the world.
What is one negative effect of globalisation?
Job loss in certain industries due to competition from abroad.
Multiple Choice: Which of the following is a key driver of globalisation? A) Technology B) Isolation C) Localism D) Protectionism
A) Technology
What role do multinational corporations play in globalisation?
They operate in multiple countries, contributing to international trade and investment.
True or False: Globalisation has led to cultural exchange between countries.
True
Fill in the blank: The _______ is an organization that promotes free trade among countries.
World Trade Organization (WTO)
What is the term for the worldwide movement of people?
Migration
Multiple Choice: Which of the following is NOT a consequence of globalisation? A) Economic growth B) Cultural homogenization C) Decreased communication D) Increased competition
C) Decreased communication
What is a trade deficit?
It occurs when a country imports more goods and services than it exports.
True or False: Globalisation has no impact on the environment.
False
Fill in the blank: _______ is the process of making products in different countries to reduce costs.
Outsourcing
What is one way technology has facilitated globalisation?
By enabling instant communication and online transactions.
Multiple Choice: Which of the following is a cultural effect of globalisation? A) Increase in local traditions B) Spread of global brands C) Decrease in travel D) Less access to information
B) Spread of global brands
What is the term for the economic system that allows free trade and competition?
Capitalism
True or False: Globalisation has led to a greater interconnectedness between countries.
True
Fill in the blank: The _______ is an agreement that promotes trade between Canada, Mexico, and the United States.
United States-Mexico-Canada Agreement (USMCA)
What is one challenge of globalisation for local businesses?
Increased competition from foreign companies.
