A multinational company; any company operating in two or more countries.
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What are the reasons for globalisation?
More transport; no countries left out anymore (Communism); lowering of trade barriers; opening up of other economies (eg China); labour spread over several countries now.
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What are the positive effects of MNC investment into an area?
Provide much needed employment for women; accounts for 7% of India's GDP and 4 million service jobs; helps world economy and trade; gives LEDCs a chance; most service jobs have to remain in the UK bc face to face; helps Brits and companies save money
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What are the negative effects of MNC investment into an area?
Offshoring means that countries such as UK will lose jobs bc cant compete with low wages in LEDCs; losing jobs to cheap overseas labour is bad for workers, families and MEDC economies; wage rates are only a fraction of those in MEDCs.
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What is the future of globalisation?
People are forming groups known as the global civil society to try and bring countries such as Sub-Saharan Africa into the benefits of globalisation. There is also a rise in pollution and a widening wealth gap between the rich and the poor.
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What are the effects of globalisation on MEDCs?
Smaller businesses cant compete with larger ones; only the people who are skilled benefit from higher salaries - lowskilled jobs overseas; decline in manufacturing means tertiary not secondary economy; social division between rich and poor very wide.
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What are the effects of globalisation on NICs?
Brings new technology and increases development; increases pollution; less affluent live near factories for work; increase in wealth and quality of life.
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What are the effects of globalisation on LEDCs?
Higher employment rate for locals; boosts the country's economic activity; exploitation of workers and environment.
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What are the effects of globalisation on LDCs?
Potential better living standards and basic necessities; Sub-Saharan African countries aren't getting the benefit; last to develop.
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What are the effects of globalisation on the rural population of the UK?
Not much money for the agricultural business; more people in industrial jobs.
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What are the effects of globalisation on MNC workers in the UK?
More machinery so less workers; low skilled jobs gone because of more outsourcing.
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What are the effects of globalisation on the urban population in the UK?
More tertiary jobs; increase in salary.
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What are the effects of globalisation on small business workers in the UK?
May have to close down as they can't compete with large companies eg Tesco.
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What are the effects of globalisation on the elderly in the UK?
Hard to access food as they have to travel a while to get to the shops: aren't trained for new technology.
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What are the effects of globalisation on the young in the UK?
More competition for low-skilled/wage jobs causing mass migration to areas; parents may lose their jobs; new technology means a better education.
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How do economic activities affect the physical environment?
Climate change: rising sea levels, melting of ice caps, growth of the tropical belt, changing patterns of rainfall, declining crop yields, impact on wildlife - Fracking too.
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Other cards in this set
Card 2
Front
What are the reasons for globalisation?
Back
More transport; no countries left out anymore (Communism); lowering of trade barriers; opening up of other economies (eg China); labour spread over several countries now.
Card 3
Front
What are the positive effects of MNC investment into an area?
Back
Card 4
Front
What are the negative effects of MNC investment into an area?
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