Globalisation

Question 1

characteristics of globalisation

Answer 1

Increased investment flows outside their country of origin. They may lower their own costs of production and improve economic prospects and job opportunities in the invested country
World trade rising as proportion of world GDP due to greater export opportunity
Comparative advantage- focusing on what you do best in comparison to others
Increased migration as globalisation allows the best talent to move around quickly

Question 2

Globalisation

Answer 2

the process of intragration and inter-connectiveness between countries

Question 3

comparitive advantage

Answer 3

focusing on what you are good at

Question 4

factors leading to globalisation

Answer 4

WTO has reduced/ removed trade barriers
Capital market liberalisation means that there is a relaxation on the rules and regulations surrounding the movement of capital
Political change resulting in the opening up of China and former Soviet Union

Question 5

capital market liberalisationg

Answer 5

that there is a relaxation on the rules and regulations surrounding the movement of capital

Question 6

social advantages of TNCs

Answer 6

• Higher standards of living
• Reduction of poverty
• Improved life expectancy

Question 7

economic advantages on TNCs

Answer 7

• Increased consumption
• Improved public services
• Lower unemployment

Question 8

environmental advantages on TNCs

Answer 8

• Develop low carbon technologies
• R and d into sustainable tech

Question 9

social disadvantages of globalisation

Answer 9

long hours
lower quality of life