Globalisation Revision

Question 1

Globalisation definition

Answer 1

The free movement of goods, capital, people, services and technology on a global level.

Question 2

OPEC

Answer 2

Organisation of the Petroleum Exporting Counties. An organisation of 14 nations that aim to unify and coordinate petrol prices and stabilisation off oil markets

Question 3

Privatisation definition

Answer 3

The transfer of business or company from private hands to public hands.

Question 4

Monopoly definition

Answer 4

A market structure where one company has complete control over a market. This business is able to set prices and entry into the market is extremely difficult

Question 5

NAFTA definition

Answer 5

North American Free Trade Agreement. Between Canada, America and Mexico that aims to eliminate trade barriers between these nations

Question 6

TNC Definition

Answer 6

TransNational Corporations. A company whose operations and investments extend beyond the borders of the state in which it is registered.

Question 7

NGO Definition

Answer 7

Non Government Organisation. Not for profit organisations what are funded by donations or subscriptions. Founded to deal with social, political or community issues eg. Poverty, helping people affected by war, protecting the environment