Globalisation : Causes, Costs and Benefits
- Created by: brandss
- Created on: 19-05-16 12:52
View mindmap
- Globalisation;the integration of world markets
- Causes
- Better transport
- improved tech (comms)
- growth of MNC's
- growth of trading blocs
- reducing trade barriers
- reduced tarifs
- growth of global media
- integration of economies
- Evaluation
- economies can be left behind
- hard to pinpoint at what point an economy has become globalised
- still various barriers which prevent trade
- Costs
- Environmental costs
- labour drain
- less culturally diverse
- for LED's
- often more diverse for MEDC's
- for LED's
- Benefits
- Free trade
- Specilisation
- lower price for consumers
- greater choice
- bigger export markets for domestic firms
- economies of scale
- Specilisation
- labour mobility
- economies of scale
- lowering ATC
- Lower price for consumers
- greater competition from foreign firms in domestic markets
- increased investment
- from MNC's
- improves development
- from MNC's
- Free trade
- Causes
Comments
No comments have yet been made