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geography edexcel > globalisation key terms > Flashcards

globalisation key terms Flashcards

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1
Q

time-space compression

A

communication technologies have massively reduced the time it takes to trade and communicate globally.

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2
Q

trade liberalisation

A

the removal of trade barriers such as subsidies, tariffs, and quotas

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3
Q

trade protectionism

A

the use of tariffs and quotas to try to boost a country’s exports or reduce it’s imports

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4
Q

trading blocs

A

countries group together to promote free trade between them e.g. the EU

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5
Q

transition town

A

town where local groups or NGOs promote local sourcing of goods to increase sustainability, reduce carbon footprints and increase resilience

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6
Q

TNCs (transnational companies)

A

companies that operate in several different companies

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7
Q

vertical integration

A

when a company controls and owns every stage of production from exploration to trade

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8
Q

world bank

A

a global organisation which uses deposits placed by the world’s wealthier countries and provides loans for development in other countries

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9
Q

world cities

A

cities with a major influence based on finance, law, political strength, IT, and innovation

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10
Q

world trade organisation (WTO)

A

a global organisation which looks at the rules for how countries trade with each other

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11
Q

A T Kearney index

A

measures how globalised a country has become

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12
Q

captial

A

money or assets

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13
Q

capitalism

A

a belief in market economy, people are free to set up businesses and keep their profits- supply and demand determine the prices of goods and services

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14
Q

commodities

A

raw materials

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15
Q

commodity traders

A

those who trade raw materials in financial centres - guaranteeing the supply price and delivery date of the product months ahead

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16
Q

communism

A

a belief in communal wealth where property is owned communally and wealth is distributed equally. the state owns or controls most land, banks, natural resources and the media

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17
Q

cultural diffusion

A

the spread of one culture to another

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18
Q

cultural erosion

A

the changing and loss of culture in an area e.g. the loss of language or cultural food

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19
Q

deindustrialisation

A

the decline of manufacturing industry in an area

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20
Q

deregulation

A

the reduction in rules which means that any foreign business can set up in the UK and bring its overseas staff with it

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21
Q

e-tailer

A

electronic online retailer

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22
Q

ecological footprint

A

a measure of the land area and water reserves that a population needs in order to produce what it consumes (to absorb the waste it generates)

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23
Q

economic sector balance

A

the percentage contribution of primary, secondary, and tertiary sectors to GNI

24
Q

economies of sale

A

ability to reduce costs proportionally by increasing the scale of production

25
Q

elite migrants

A

skilled, wealthy migrants, often with expertise in finance and investment

26
Q

ethnic enclaves

A

concentrations of particular communities in an area, such as an area with a high concentration of polish residents

27
Q

export processing zones

A

term used by China ehich describes the areas set up by national governments to offer financial or tax incentives to attract FDI

28
Q

fairtrade

A

independent non-profit organisation which aims to return a bigger proportion of the revenue to producers or growers

29
Q

FDI

A

foreign direct investment is an investment made by an overseas company or organisation into a company or organisation which is based in another country

30
Q

free enterprise

A

when companies operate in competition with each other with minimal governmental control

31
Q

futures market

A

a market where traders can buy or sell futures contracts. in which contractors agree to supply and deliver goods at an agreed price in the future

32
Q

G7

A

an intergovernmental organisation consisting of the USA, UK, France, Canada, Germany, Italy, Japan, - meets annually to discuss development

33
Q

G20

A

an IGO which comprises 19 individual countries and the EU- brings together developed and developing countries to discuss key economic issues

34
Q

Gini coefficient

A

a measure of inequality which considers how far wealth distribution within a country deviates from perfect equality

35
Q

global homogenisation

A

the idea where everywhere is becoming the same

36
Q

global shift

A

the movement of manufacturing from Europe and the USA to many Asian countries

37
Q

glocalisation

A

when a company re-styles its products to meet local tastes

38
Q

GDP (gross domestic product)

A

the value of goods and services earned by a country (excluding foreign earnings)

39
Q

GNI (gross national income)

A

the value of goods and services earned by a country

40
Q

Heavily Indebted Poor Countries Initiative (HIPC)

A

38 of the least developed countries with the greatest debts- have been eligible to have their debts with the IMF cancelled or rescheduled

41
Q

horizontal integration

A

when a company expands at one level in the production process

42
Q

host locations

A

areas where migrants move to

43
Q

human development index (HDI)

A

a measure of development which takes into account life expectancy, education, and GDP for every country (a value between 0 and 1)

44
Q

IGOs

A

organisations which comprise two or more countries working together

45
Q

International monetary fund (IMF)

A

a global organisation whose primary role is to maintain international financial stability

46
Q

KOF index

A

annual index of globalisation for each country

47
Q

liberalism

A

idea that the governments role in business and the economy should be minimal to allow individual decision making and a free markey

48
Q

neo-liberalism

A

belief in the free flows of people, capital, finance and resources. state interventions are minimised . obligations of the state to provide welfare to citizens is diminished

48
Q

OECD

A

organisation of economic co-operation and developement. an IGO that is a global think-tank of the 34 wealthiest nations

49
Q

quotas

A

fixed level or limit

49
Q

remittance payments

A

income sent home by individuals working elsewhere (often abroad)

49
Q

PPP (purchasing power parity)

A

relates average earnings to local prices and what they will buy. the spending power within a country which reflects the local cost of living

50
Q

subsidies

A

grants given by governments to increase the profitability of key industries

51
Q

tariffs

A

tax that is paid on good coming into or going out of a country

52
Q

intermodal containers

A

shipping containers

53
Q

OPEC

A

organisation of petroleum exporting countries- meet to discuss the supply and demand of oil to be profitable

54
Q
A

geography edexcel (2 decks)

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