Globalization Flashcards
it is the increasing interaction of people, states, or countries through the international flow of money, ideas, and culture.
Globalization
How does globalization facilitate the free movement of goods, services, and people across the world?
It allows for a seamless and integrated exchange across borders, eliminating restrictions related to time zones and national boundaries.
What are the key characteristics of globalization?
Social mobility, Intensification of interactions, Active Process, Borderless Interaction, Spread of Ideas.
What are the main reasons for globalization?
-Rapid shrinking of time and distance
-Reduction of transportation costs
-Domestic markets are less rich
-Seeking Stability
What role does technology play in globalization?
Technology enables faster communication, efficient transportation, and the ability to conduct business globally, enhancing interconnectedness.
How does globalization affect cultural exchange among nations?
It fosters the sharing and blending of cultures, leading to greater diversity and understanding but also potential cultural homogenization.
How has globalization influenced urbanization and the standard of living in different countries?
It has led to increased urbanization as people move to cities for job opportunities, often improving living standards but also creating challenges like overcrowding.
What are the economic impacts of globalization on job creation and production costs?
Globalization can create jobs in emerging markets while reducing production costs through outsourcing and access to cheaper labor.
What challenges and criticisms are associated with globalization?
Globalization can lead to economic inequality, cultural erosion, job displacement in developed countries, and environmental degradation.
