Globalisation 4.1.1

Question 1

Define Globalisation

Answer 1

Integration of different countries through increasing cross border movements

Question 2

What are the 5 main characteristics of Globalisation

Answer 2

Increased international movement of labour
Increased international movement of financial capital
Increased specialisation
Increased international trade
Increased trade-to-GDP ratio

Question 3

What are the 4 causes of globalisation

Answer 3

Improvements in transport
Improvements in IT
Containerisation
Trade Liberalisation

Question 4

What are the impacts of Globalisation on countries

Answer 4

Increased Living standards
Overdependence

Question 5

What are the impacts of Globalisation on governments

Answer 5

Increased Tax revenue

Question 6

What are the impacts of Globalisation on Producers

Answer 6

Reduced production costs by relocation

Question 7

What are the impacts of Globalisation on Consumers

Answer 7

Increased choice at lower prices
Decreased happiness Diderot Effect

Question 8

Define the Diderot Effect

Answer 8

Acquiring a new possession leads to a spiral of consumption that results in the acquisition of even more possessions

Question 9

What are the impacts of Globalisation on Workers

Answer 9

Increased Job Opportunity
Structural Unemployment

Question 10

What are the impacts of Globalisation on the Environment

Answer 10

Increased Cooperation to reduce climate change
Global Warming