Globalisation

Question 1

globalisation definition

Answer 1

a process by which national economies, societies and cultures have become increasingly integrated through the global network of trade, communication, transport and immigration

Question 2

how is communication influenced by globalisation

Answer 2

people are interlinked more so can communicate more easily. social media heavily involved. means we know what is occurring around the world more

Question 3

how is the environment impacted by globalisation (positively and negatively)

Answer 3

countries can come together to help and set policies - also companies such as the WWF can benefit more as we are all joined together
more trade can also mean more pollution- bad. rainforests cut down

Question 4

in 1983 90% of American media was owned by how many companies

Answer 4

50

Question 5

in 2011 90% of American media was owned by how many companies

Answer 5

6

Question 6

what do international flows of capital refer to

Answer 6

refers to all financial transfers between companies for investment, trade or production

Question 7

the flow of capital in the 20th century was boosted by..

Answer 7

the deregulation of financial services- allowing banks and companies to more freely move money across national boundaries

Question 8

what is remittance

Answer 8

transfers of money from migrants to relatives back home- flows of capital back to periphery nations

Question 9

what is FDI

Answer 9

foreign direct investments– money or assets invested by TNCs

Question 10

what is the IMF

Answer 10

international monetary fund- aims to allow economic stability and foster international trade

Question 11

how much global FDI was there in 2016

Answer 11

$1500 billion

Question 12

how has flows of trade changed in recent years

Answer 12

manufacturing has decreased in more developed countries due to lower labour costs overseas. companies then import the products to the countries where they are sold (eg Dyson is produced in Malaysia but sold in the UK)

Question 13

international trade in manufactured goods is increasing, in the UK how much was imported in 1990 compared to 2008

Answer 13

UK imported £200 billion of manufactured goods in 1990 and £550 billion in 2008

Question 14

changing flows of products has caused countries to be …

Answer 14

interdependent

Question 15

causes of globalisation

Answer 15

the movement of: information, capital, products, services and labour

Question 16

how has globalisation impacted information and communications technology (ICT)- particularly banking

Answer 16

has allowed services to become global industries. banking depends on communication and the transfer of information. improvements to ICT has meant that services can locate anywhere in the world and be able to serve customers around the world

Question 17

what is an economy of scale

Answer 17

cost advantage of large scale output of a product as savings are made by spreading the costs over more units

Question 18

example of an economy of scale

Answer 18

ford fiesta new bonnet – research ($1.5 mil), design ($0.5 mil), development ($2 mil), manufacture ($3 mil). all together= $7 mil. sold 10 million cars so each new bonnet cost 70 cents

Question 19

how many countries is coca cola sold in

Answer 19

all countries bar north Korea

Question 20

main dimensions of globalisation (flows)

Answer 20

flows of capital
flows of labour
flows of products 
flows of services 
flows of information

Question 21

where is the largest flow of labour

Answer 21

mexico to the USA

Question 22

why is there a large flow of labour from Mexico to the USA

Answer 22

increased opportunity in the USA

geographical proximity

Question 23

what is global shift

Answer 23

global shift is the movement of manufacturing to lower wage economies

Question 24

what is high skilled labour

Answer 24

high paid, decision making, research and managerial occupations. largely focussed in developed countries

Question 25

what is low skilled labour

Answer 25

poorly paid assembly occupations. focussed in developing nations with low labour costs

Question 26

what are global peripheries

Answer 26

areas relatively unaffected by global interactions of globalisation

Question 27

example of a global periphery

Answer 27

mainly Africa - as it predominantly underdeveloped and faces many social challenges (eg segregation in South Africa)

Question 28

what are global cores

Answer 28

industrialised countries on which periphery and semi periphery nations depend. they control and benefit the global economy

Question 29

example of global core countries

Answer 29

USA and China