Globalization Flashcards
Multinational co-operations
MNC is any company that does business in foreign countries outside of itself. They most commonly set up their central or main headquarters in their home country and operate warehouses and distribution centers in foreign countries.
Examples of MNC companies?
Apple, Amazon, FedEx, Ebay, Digicel, Scotiabank and Nestle
What does capital and labor mean in terms of Geography.
Capital means goods, valuables, money and etc.
Labour means work
Definition of Globalization
A group of processes that build connections between places, societies and individuals around the globe through trade politics and cultural exchange with the help of technology and transportation
What is free movement of labor?
The free movement of labor refers to the right workers have the look for work in a separate country without a visa. This is a part of the EU
Advantage of free movement of labor
It can lower the pace of unemployment growth.
Advantage of free movement of capital
It enables an efficient cross-border deployment of physical and financial capital for investment and financing purposes.
Standard of living
The amount of wealth and material comfort for a person or a community
How does a country’s standard of living affect the people of that country?
It impacts the region’s population’s income, employment opportunities, life expectancy, cost of goods and services and poverty.
What are global links
The Global Links indicators provide an overview of the flows and associations that enable the world’s economy and the economies of individual countries to grow and expand.
What are international markets
An international market is any geographical region where a company conducts business that is outside the territorial boundaries of a company’s home country, while a domestic market is within the boundaries of its home country. An example of a international market would be coco-cola
How have global links via the internet have opened up international markets for business?
Global links via internet have affected the international markets for business by making it easier to collect data for other businesses. since the internet customers from across the world can get data easier and more efficient data that is more valid to the company .
What is regional integration
Regional integration is the process by which two or more nation-states agree to co-operate and work closely together to achieve peace, stability and wealth.
What does regional integration do?
Regional integration assists countries in overcoming barriers to the free flow of good and services, capital, persons, and ideas. Divisions impede economic growth, particularly in developing countries. When small nations come together through regional integration they are able to increasing their resilience and scale, as well as increasing their bargaining power on the global stage. If regional integration enhances and accelerates the nation will improve. Regional integration can be promoted through: Trade, investment and domestic regulation, Transport, ICT and energy infrastructure, Macroeconomic and financial policy, The provision of other common public goods
How does Globalization offer opportunities for organized criminals
Globalization offers opportunities to organized criminals due to the supply and demand of the whole world. This has led to criminals running black markets all around the world while taking advantage of the fact that the world’s supply and demand have drastically increased.
How does Globalization offer opportunities for regular criminals
Globalization offers opportunities for normal criminals as well. You can have a transnational heist across the globe because of the fact that we are able to communicate with others in a different country than us, and you can make transactions to steal money on an online platform/basis as well because of the technology globalization has helped us make.
Why did crime get so much more devious after Globalization
Crime got worse after Globalization because Globalization created many things, including things that can be used for bad. Your everyday smartphone of laptop that you use can be used by a criminal easily and they can do some very bad things if they are experienced enough. They can hack into lots of companies and destroy lots of things with a single computer, and it is harder to find out who a criminal is when you now have to look at digital evidence as well as physical and you can even erase your digital tracks much better than physical tracks.
What is free market
A free market is an economic system based on supply and demand with little or no government control. It is a system in which prices and wages are determined by the forces of supply and demand and in which businesses compete with each other for customers and resources.
Government Control Over Trade
In a free market system, the government does not intervene in the market, allowing market forces to dictate prices and wages. This means that the government does not have direct control over trade and multinational companies involved in it.
Benefits of free market
The benefits of a free market economy include increased competition, more choices for consumers, improved product quality, and greater economic efficiency.
Free trade
Free trade is when 2 or more countries are able to import and export goods from and to each other without any cost.
Advantages of Globalization
Access to new Markets
Spread of knowledge and technology
Enhanced global co-operation and tolerance
Advantages of globalization
Access to new markets
Spread of knowledge and technology
Enhanced global co-operation and tolerance
Promotes economic growth
Disadvantages of globalization
Increased competition
Exploitations of labor and resources
Imbalanced trade
Domestic job loss
What is free movement of capital
The movement of goods, capital and services without needing a visa
