4.1.1 - Globalisation

Question 1

What Is Globalisation?

Answer 1

Increased integration of different economies.

Question 2

What Are The Characteristics Of Globalisation?
(4 Points)

Answer 2

~ Increased international movement of labour.

~ Increased international movement of financial capital.

~ Increased specialisation.

~ Increased international trade.

Question 3

What Are The Causes Of Globalisation?
(4 Points)

Answer 3

~ Improvements in transport.

~ Improvements in IT.

~ Containerisation.

~ Trade liberalisation.

Question 4

What Are The Impacts Of Globalisation On Individual Countries?
(2 Points)

Answer 4

~ Increase in living standards.

~ Increased over dependence.

Question 5

What Are The Impacts Of Globalisation On Governments?
(2 Points)

Answer 5

~ Increased revenues.

~ Transfer pricing.

Question 6

What Are The Impacts Of Globalisation On Producers?
(2 Points)

Answer 6

~ Lower transport costs.

~ TNCs create high barriers to entry, limiting growth for smaller firms.

Question 7

What Are The Impacts Of Globalisation On Consumers?
(2 Points)

Answer 7

~ Lower prices.

~ Loss in happiness, due to increased demand for goods.

Question 8

What Are The Impacts Of Globalisation On Workers?
(2 Points)

Answer 8

~ Rising incomes and more jobs.

~ Rising unemployment.

Question 9

What Are The Impacts Of Globalisation On The Environment?
(2 Points)

Answer 9

~ More fighting of climate change.

~ Increase in global warming.