Globalisation today

Question 1

what has the 21st century been dominated by rapid developments in?

Answer 1

ICT and mobile communications

Question 2

what percentage of the worlds mobile phone subscriptions are in developing nations? And where is the highest growth rate?

Answer 2

66%

Africa

Question 3

define tariff

Answer 3

a tax imposed on imports

Question 4

define subsidy

Answer 4

grant given by government to a business to make it competitive/prevent collapse

Question 5

define quota

Answer 5

a limit on the quantity of a good a country allows in

Question 6

define protectionism

Answer 6

policies to protect businesses and workers in a country by restricting/regulating trade with foreign nations

Question 7

define free market economy

Answer 7

market economy based on supply & demand with little/no government control

Question 8

define free trade

Answer 8

a policy where a government does not interfere with imports or exports by applying tariffs, subsidies or quotas

Question 9

define privatisation

Answer 9

transferring ownership of a public service/agency/property into private ownership run for profit

Question 10

define neoliberalism

Answer 10

political philosophy of free markets, free trade, privatisation and increasing the role of business in society (while decreasing the influence of government). it is thought by making trade easier, there will be more of it, meaning wealth and reduction of poverty