Globalistion Flashcards
1
Q
What is globalisation
A
The process where by economies and societies around the world become interconnected .
2
Q
What does TNC stand for
A
Trans-national cooperation
3
Q
Why do companies go global
A
To maximise profits so they build factories in LEDCS where minimum wages are very low.
4
Q
Arguments for globalisation
A
Maximises profits for TNCs
Helps trade as countries can become more interconnected eg European Union.
5
Q
Profit equation
A
Revenue-cost=profit.
6
Q
What is globalisation helped by?
A
Planes cars telephones and internet
7
Q
Positives of globalisation
A
Local employment, boost ledc wealth and boosts TNC profits
8
Q
Negatives of globalisation
A
Exploited workers (sweatshops), no investments locally, local job losses, local pollution
