Impacts of Globalisation Flashcards
1
Q
On individual countries
A
Advantage: increase living standards
Disadvantage: overdependence
2
Q
On governments
A
Advantage: increased tax revenues
Disadvantage: increase transfer pricing - decrease tax revenue
3
Q
On producers
A
Advantage: reduced costs through relocation
Disadvantage: high barriers to entry for smaller firms
4
Q
On consumers
A
Advantage: wider choice, lower prices
Disadvantage: decreased consumer happiness - diderot effect
5
Q
On workers
A
Advantage: increased international opportunities
Disadvantage: increased structural unemployment due to specialisation
6
Q
On environment
A
Advantage: increased global cooperation against climate change
Disadvantage: increase in global warming
