Globalisation Flashcards
1
Q
These links have been developed through
A
- trade
- investment
- production
2
Q
Global brands mean
A
Standardised quality products available in most national markets
3
Q
Global sourcing
A
Global companies now source their operations through worldwide production
•replaced domestic prosecution (clear consequence of globalisation)
4
Q
Advantages of globalisation
A
- lower prices better jobs
- wider variety of goods and services
- enjoyment of global brands
- spreading best practice and technology transfer
- improved health care
- in all increases living standards
5
Q
Disadvantages of globalisation
A
- inequality
- inflation
- increasing dependency for developing economies
- unemployment
- environmental threats( negative externalities)
- standardisation loss of cultural diversity
- countries more susceptible to external shocks
6
Q
Definition…
A
The process that has resulted in ever closer links between the worlds economies
