Globilisation.

Question 1

What is globalisation

Answer 1

Globalisation is the increased interdependency of economies on each other which likely increases specialisation

Question 2

Characteristics of globalisation include:

Answer 2

• Increased interdependency of economies
  e. g.Outsourcing to different countries
• Increased amount of trading blocs such as the E.U.
• Increased unitary organisations e.g. United Nations.
• More specialisation
• More pollution
• More trade
• Greater FDI
• F.O.P movement.

Question 3

Factors which have contributed to globalisation over the last 50 years.

There are 6

Answer 3

• No Major worldwide conflict
• More unity with trading blocs etc.
• Surplus’s of labour in developing countries.
• Technological advances which improve efficiencies of production and transport.
• Economies of scale
• Labour specialisation.

Question 4

Impacts of globalisation on individual countries, governments, producers and consumers, workers and the environment.

Answer 4

Individual countries - Integrates them more and countries and businesses become more dependent on each other.
Governments - Can constrain the governments as they may have to subsidies their specialised good to remain competitive instead of infrastructure and supply side policies. Furthermore if they are part of a trading bloc then there is the fee of being involved.
Producers and consumers - likely can access cheaper goods and prices due to EoS, Local produces may not be able to keep up with the monopolies of foreign direct investment.
Workers - More job opportunities to work at bigger businesses, However local business workers may struggle.
The environment- May get worse as their are more big moves that take place, however if the company is responsible and sustainable in everything they do then it may benefit the country.