Globalisation : Causes, Costs and Benefits

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  • Created by: brandss
  • Created on: 19-05-16 12:52
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  • 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
    • Benefits
      • Free trade
        • Specilisation
          • lower price for consumers
          • greater choice
          • bigger export markets for domestic firms
          • economies of scale
      • 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

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