May Exam Flashcards
What is globalisation
The way ideas, lifestyles and culture spread around the world
What is a TNC
A transnational corporation is a company that has branches in many countries
The headquarters will ally be based in medcs
What is Fairtrade
Trade between 2 companies in developed countries and producers in developing countries in which fair prices are paid to the producers
How does fairtrade help the poorer countries
Products are bought directly from the producer
The middle men that soak up the profit are removed
The working conditions of the producers are monitored
Shorter working week, more breaks
Better housing and education
What is trade
The exchange of goods and services between one country another
What is an export
Goods sold to another country
What is an import
Goods bought into a country
What is balance of trade
The difference between the country’s exports and imports
What is a trade block
When some country’s group together to make trade cheaper and easier between them
What is aid
Lending assistance to countries or communities who are in need
3 types of aid
Bilateral
Multilateral
NGO’s
What is bilateral aid
Involves 2 countries
It is between 2 governments
What is multilateral aid
Involves many countries giving aid to one country
It is between more than 2 governments
3 advantages of aid
Potential to save lives
Helps countries health care develop
Rebuild an area after disaster
3 disadvantages of aid.
Risk of corruption
Aid can be tied or in the form of a loan which can be expensive to pay back
Some countries become dependant on aid