Businesses whose operations are spread accross the world, operating in many nations as both makers and sellers of goods and services.
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Gross Domestic Product (GDP)
A measure of the financial value of goods and services produced within a territory. It is often divided by population size to produce a per capita figrue for the purpose of comparison
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Emerging Economies
Countries that have begun to experiance high rates of economic growth, ussually due to rapid factory expansion and industrialisation.
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Remittances
Money that migrants send home to their families via formal or informal channels.
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Interdependancy
If 2 places become over-reliant on financial and / or political connections with one another, then they have become interdependant.
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Spatial division of Labour
The common practise among TNC'S of movign low skilled work abroad (or "offshore") to places where labour costs are low.
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Intermodal containers
Large-capacity storage units which can be transported long distances using multiple types of transprot, such as shipping and rail, without the freight being taken out of the container.
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Shrinking World
Thanks to technology, distant places start to feel closer and take less time to reach.
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Foreign direct investment
A financial injection made by a TNC into a nation's economy, either to build new facilities or to aquire, or merge with an existing firm already based there.
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BRICS Group
the four large, fast growing economies of Brazil, Russia, India, China, recently joined at their annual summit meeting by South Africa.
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Other cards in this set
Card 2
Front
A measure of the financial value of goods and services produced within a territory. It is often divided by population size to produce a per capita figrue for the purpose of comparison
Back
Gross Domestic Product (GDP)
Card 3
Front
Countries that have begun to experiance high rates of economic growth, ussually due to rapid factory expansion and industrialisation.
Back
Card 4
Front
Money that migrants send home to their families via formal or informal channels.
Back
Card 5
Front
If 2 places become over-reliant on financial and / or political connections with one another, then they have become interdependant.
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