Globalisation Flashcards
what is globalisation?
it is the process pf the world’s economies, political systems and cultures becoming strongly connected to each other
what is it caused by?
the movement of information, capital, products, services and labour between different countries
what are the five factors that promote globalisation?
flows of information, capital, products, services and labour
what is capital flow?
it is the movement of money for the purpose of investment, trade or for goods and services
what is international trade?
it is the exchange of capital goods and services across borders
what is labour?
is the aggregate of all human, physical and mental effort and is used to create goods and services
what is the origin of globalisation?
it originated in the 1990s due to the intergration of world economies
what has been the focus of globalisation?
it has been primarily economic including international trade, foreign direct investment and international capital flows
what are the six dimensions of globalisation?
economy, society, culture, technology, environment and politics
