Globalisation Flashcards
1
Q
FDI
A
Foreign direct investment
2
Q
Economy of scale
A
The cost advantages that occur due to increased production. Each unit costs less
3
Q
GDP per person
A
The amount of money made per country divided by the population of that country
4
Q
Globalisation
A
The process by which the world is becoming increasingly interconnected as a result of increased trade and cultural exchange
5
Q
Outsourcing
A
The move the production of an item to a supplier over seas
6
Q
Core
A
Advanced countries
7
Q
MEDC
A
More economically developed countries
8
Q
Periphery
A
Less economically developed countries
9
Q
EDC
A
Economically developed countries
10
Q
LIDC
A
Lower income developing countries
