Test 5 Flashcards
Definition of ethical consumer
Ethical consumers only buy products that are produced in fair and honest way and avoid products that are known to harm animals humans and the environment
Define globalisation
Business that treat the world as one market and countries and people become connected
Effects of globalisation on consumers and local businesses
Consumers:more choice of products and wider variety
Local businesses:range of stocks,don’t make as much and people can can buy online
Reasons for globalisation
It is cheaper,increases profit and sells cheaper goods
Examples of global firms
Nike,Zara,Adidas
Reasons why tnc’s choose Ireland
Access to the EU,educated work force and Ireland has a low corporation tax
What are 3 positive effects of globalisation
TNC’s help countries by providing new jobs and skills for local people
Business can share ideas that they might’ve been previously able to experience
We can have a greater choice of goods and services in different parts of the world
Negative impacts of globalisation
Globalisation operates mostly in the interests of the richest countries
TNC’s may drive small local companies out of business
There is no guarantee that the wealth from inward investment will benefit the local people
Advantages of electronic commerce
Consumers can find what there looking for without having to leave home
Consumers are no longer limited to what shops they buy from and can buy goods from abroad
Disadvantages of electronic commerce
Some people prefer to deal when buying products or services
It can be inconvenient and expensive to return products that have been purchased online
A website may take up money but have no intention of delivering your products
Define electronic commerce
Electronic commerce means buying and selling goods or services over the internet
