Globalisation

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What is Globalisation?
The greater integration of the global economy.
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What does globalisation mean for the different countries?
An increased dependance on other countries, countries specialising in certain types of econimc activity, jobs moving to countries with cheaper labour costs, increased connection between one another.
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What is the clark-fisher model?
A diagram showing economic development.
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What are the four economic sectors?
Primary, secondary, tetiary and quaternary.
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What is the primary sector?
Agriculture, hunting, extracting raw materials.
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What is the secondary sector?
Manufacturing goods (Toys)
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What is the tertiary sector?
Services (Education, banking)
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What is the quaternary sector?
Research (nano-tecnology)
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What is the pre-industrial phrase?
When the primary sector is the most dominant economic sector.
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What is the industrial phrase?
When the secondary sector rises to become the most dominant econimc sector.
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What is the post-industrial phrase?
When the tertiary sector rises to become the most dominant economic sector and the quaternary starts to appear.
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What happens to employment when a country develops?
Pay increase, working conditions increase, a change from informal to formal jobs.
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What is the global shift?
When jobs from one country moves to another country.
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How do global insitutions help globalisation?
Promte free trade, loans given to developing countries, reducing costs by moving elsewhere to increase profits.
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How has globalisation impacted developed countries?
They have become richer.
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How has globalisation impacted industrialising countries?
Many people are starting to get jobs to lift themselves out of poverty.
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How has globalisation impacted developing countries?
They have seen little to no improvements
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How does money flow through the world?
Through trade, through stock markets, foreign direct investment(FDI).
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What has changed in world exports?
Developed nations are exporting less, Asian (industrialised) coutries has seen an increase, while Africa, the Middle East have been the same.
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Where does the most foriegn direct investment (FDI) go to?
Developed countries.
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What has caused global trade to become easier?
Instant online communication, jet crafts, container ships.
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What does TNC mean?
Transnational corporation.
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How do TNCs help globalise the world economy?
They invest in many different countries, have global networks.
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Why have TNCs shifted production to Asia?
Much cheaper labour costs.
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Why have tertiary TNCs moved to Asia?
As there is a mass market to sell products.
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What is the benefit of outsourcing for TNCs?
Less responsibility as its moved to other countries.
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Other cards in this set

Card 2

Front

What does globalisation mean for the different countries?

Back

An increased dependance on other countries, countries specialising in certain types of econimc activity, jobs moving to countries with cheaper labour costs, increased connection between one another.

Card 3

Front

What is the clark-fisher model?

Back

Preview of the front of card 3

Card 4

Front

What are the four economic sectors?

Back

Preview of the front of card 4

Card 5

Front

What is the primary sector?

Back

Preview of the front of card 5
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