Term 2 Flashcards
What are the 4 sectors of economy?
Primary
Secondary
Tertiary
Quaternary
What does the primary sector do?
They extract materials from the earth
What does the secondary sector do?
They put things together/This is the manufacturing section
What does the tertiary sector do?
They provide service for other people
What does the quaternary sector do?
they are the intellectual side of economy, they do research on the future to enhance the health and care of the future generation e.g. ai,school,training,technology.
What is a TNC?
A TNC is a transnational cooperation which is a global company. The host country is different to the country of origin.
What is the Clark Fisher Model?
shows how countries move through three phases: pre-industrial, industrial and post-industrial and how it has changed.
What has caused globalisation to accelerate?
The same clothing,same language,same food and celebrations.
What is economy?
Economy is the management of all resources including money.
What is globalisation?
It is the interaction of people/companies/government around the world. it bring people together.
What is cultural erosion?
is when the cultures of people slowly begin to fade away.
How globalised are you?
I am very globalized.
