key terminology Flashcards
what is globalisation
Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange.
Reasons for globalisation
Improvements in transportation
Freedom of trade
Improvements of communications
Labour availability and skills
What is a transnational corporation?
an international corporation, or a stateless corporation.
what is interdependency?
the dependence of two or more people or things on each other. In this sense, two or more countries.
What is sustainable development?
Economic development that is conducted without depletion of natural resources.
What is economic development?
Efforts to improve the well-being and quality of life for a community
What is a global community?
the people or nations of the world, considered as being closely connected by modern telecommunications and as being economically, socially, and politically interdependent.
