Globalisation Flashcards
Clark Fisher model
Theory/model used to explain the changes in employment structure that happen over time.
Containerisation
Movement of goods around the world in large container ships.
Deindustrialisation
Where secondary emplyment in a country is declining.
Foreign Direct Investment (FDI)
Investment in a country’s factories, transport, and infrastructure that is given by a foreign company.
Globalisation
The growing interdependance between countries.
Industrialisation
Where secondary employment in a country is increasing.
International Monetary Fund (IMF)
Organisation that aims to help, and prevent financial problems around the world.
Merger
Where two companies with similar products join together to form a larger company (one might buy the other).
New economy
Businesses that are based on the sale of services, rather than manufactured goods.
Newly Industrialised Country (NIC)
A country that is industrialising very quickly.
Primary Industry
Jobs that involve extracting raw materials from the land, or sea e.g. fishing, farming, quarrying, mining
Quaternary industry
Jobs that provide information, and expert help e.g. IT support; research, and development.
Secondary industry
Jobs that involve the manufacturing of raw materials into a finished product e.g. house building, car making
Sweatshop
A factory where workers are expected to work long hours with low pay, and poor working conditions.
State-led investment
Investment from a government into state owned companies.
