Globalisation

Question 1

What does globalisation describe

Answer 1

-Globalisation describes the process whereby regional economies,societies, and cultures are evermore interconnected.

Question 2

What is globalisation

Answer 2

Globalisation is the way companies,ideas and lifestyles are spreading around the world with increasing ease.

Question 3

What are reasons for globalisation

Answer 3

1). Freedom of trade- promoted by World Trade Organisation
2). Improvements in communication e.g internet and mobile communication
3). Improvement in transportation e.g larger ships,economies of scale and speed of transport
4). Labour availability and skills in LEDCS e.g low labour costs, high skill levels and less regulation

Question 4

What does TNC stand for

Answer 4

Transnational corporations

Question 5

What are tncs

Answer 5

TNCS are companies that have branches in many different companies around the world.

Question 6

Where are TNCS headquarters (usually)

Answer 6

In MEDCS

Question 7

Where will their production be (usually)

Answer 7

In LEDCS all over the world.

Question 8

Examples of TNCS

Answer 8

Nokia,cannon,hp,LG,McDonald’s

Question 9

What helps globalisation

Answer 9

Planes/air control,lorries,phones, communicating via computing

Question 10

How do companies make profit

Answer 10

The more goods the company sells and the lower it costs the more profit will be made

Question 11

Why do TNCS have factories in LEDCS

Answer 11

Reduces labour and raw material costs, increases sales and achieves favourable trading conditions.

Question 12

What does WTO stand for

Answer 12

World Trade Organisation

Question 13

What is the WTO’s main aim

Answer 13

The WTO aims to remove barriers to trade between countries,so that companies can trade freely everywhere.