Vocabulary list for Globalisation Flashcards
Bilateral aid
Given by the government of one country directly to another
Code of Practice
A set of rules drawn up by an industry to ensure that workers are treated fairly
Corporate Social Responsibility (CSR)
A moral and ethical responsibility a business has to conduct itself in a way that contributes to the wellbeing of its employees, its customers, the local community and the wider world.
Development aid
Designed to fund longer term projects that aim to help people improve the quality of life
Fair trade
People produce raw materials are paid a fair price for their goods.
“Fair price” - covers the cost of sustainable production for their product
Farmers can continue to plant and grow to make a living
Producers and traders can negotiate a higher price on the basis of quality, organic crops or grades of produce
Fairtrade Organisation
Sets a minimum price that a buyer of Fairtrade products has to pay to a Producer Organisation ,
*Not a fixed price - lowest possible for price negotiations between producer and purchaser
Free Trade
Free Trade Agreements - legal binging agreements
∆ Two or more states
*Not to add taxes or duties onto each other’s goods and services
†Promotes economic interdependence
†Directly enhance national security
Globalisation
National and regional economies, societies, and cultures become integrated through the network of trade, communication, immigration and transportation
Humanitarian aid
Sent quickly in response to an emergency in order to save lives
Land Grab
Buying very large portions of land, in poor countries
*Not allowing any farming or using it to grow crops that are sold abroad for fuel rather than feeding local people
Multilateral aid
Given from a fund to which several richer countries contribute
*Money is given as aid from the EU comes from the different European countries
Multinational
A business that operates in several countries around the world
Non Governmental Agency (NGO)
Local, national or international non profit group.
Perform humanitarian functions
Eg. Oxfarm, Save the Children
∆Provide analysis and expertise, serve as warning mechanisms and help monitor and implement international agreements
Unfair trade
People who produce raw materials are paid very little but expected to pay high prices for finished products.
poor people get poorer and the rich get richer
