Globalisation EQ1 Flashcards
What is Globalisation?
The variety of ways that places and people are becoming ever more closely linked and interconnected.
What are Transnational Corporations?
Businesses whose operations are spread across the world, operating in many countries as both makers and sellers of goods.
What is GDP?
A measure of the financial value of goods and services produced within a territory.
What are Emerging Economies?
Countries that have begun to experience high rates of economic growth, usually due to rapid factory expansion and industrialisation.
What is Interdependency?
When two places become over-reliant on financial and/or political connection with one another.
What is Spatial Division of Labour?
The common practice among TNCs of moving low skilled workers abroad to places where labour costs are lower.
What are Intermodal Containers?
Large capacity storage units which can be transported long distances using multiple types of transport without the freight being taken out.
What is Shrinking World?
Distant places taking less time to get to due to better technology.
What is Time-Space Compression?
The perceptual change of time, distance and potential barriers to migration of people, goods, and info through heightened connectivity.
What is Economics of Scale?
When companies expand production to increase efficiency and reduce unit production costs.
What is Technological Leap-Frogging?
The adaption of a new technology by a developing economy, without it having to use a more basic technology first.
What are Remittances?
The money that migrants send home to their families via formal or informal channels.
GDP - Remittances = ?
GNI (Gross National Income).
What is Economic Globalisation?
The growth of companies, technology and investing allows purchases and information to be transferred easily.
What is Social Globalisation?
The extensive links of families and improvements in education and health which therefore improves social links.
What is Political Globalisation?
The growth of trading and reduced restrictions as well as a world bank to harmonise economies and countries.
What is Cultural Globalisation?
The successful cultural traits and local cultures merging together and also the circulation of ideas and information.
Why may people be against Globalisation?
Disagree with the loss money from the economy, Protests against the loss of variety and individuality.
What is a major cause of Globalisation and why?
Transport and communication bringing changes to companies systems has meant better trade in which people seek profit and raw materials causing faster innovation and re-investment.
What is the name of the Company which changed Transport of Goods?
McLean Company.
What three Technological Advances that cause Time-Space Compression?
Broadband and Fibre Optics.
Telephone and Telegraph Cables.
GIS and GPS Systems.
What are Broadband and Fibre Optics?
Undersea cables that that can transport and move large amounts of data quickly.
What are Telephone and Telegraph Cables?
Cables that could do instant communication and revolutionised how business work by replacing long journeys.
What are GIS and GPS Systems?
Systems that broadcast locations and data to users through global positions.
