Flashcards
Globalisation
Cards in this deck (21)
- 1Capital flowsThe movement of money for the purpose of investment, trade or to produce goods/provide services.
- 2GlobalisationA process by which national economies, societies and cultures have become increasingly integrated through the global network of trade, communication, transportation and immigration
- 3International tradeExchange of capital, goods and services across international borders
- 4LabourFactor of production defined as the aggregate of all human physical and mental effort used to create goods or provide services
- 5BRICGroup of 4 countries (Brazil, Russia, India, China) whose economies have advanced rapidly since 1990s
- 6DiasporaLarge group of people with a similar heritage or homeland who have moved and settled in places all over the world
- 7Economic leakagesA loss of income from an economic system. Usually refers to profits sent back to their base country by transnational corporations
- 8MINTMore recently emerging economies of Mexico, Indonesia, Nigeria and Turkey
- 9ContainerisationSystem of standardised transport that uses large standard-size steel containers to transport goods
- 10ProtectionismDeliberate policy by government to impose restrictions on trade in goods and services with other countries
- 11TariffsTax/duty placed on imported goods with the intention of making them more expensive to consumers so that they do not sell at a lower price than home-based goods
- 12ConglomeratesCollection of different companies or organisations which may be involved in different business activities but all report to 1 parent company
- 13Economies of scaleCost advantages that result from the larger size, output or scale of an operation as savings are made by spreading the costs or by rationalising operations
- 14MaquiladoraManufacturing operation located in free zones in Mexico. Import materials for assembly and then export the final product without any trade barriers
- 15Bottom upLocal people are consulted and supported in making decisions to undertake projects or developments
- 16Top downDecision to undertake projects or developments is made by a central authority such as government with little or no consultation with the local people whom it will affect
- 17Bilateral agreementAgreement on trade that it negotiated between 2 countries or 2 groups of countries
- 18Common marketsGroup formed by countries in geographical proximity in which trade barriers for goods and services are eliminated
- 19Customs unionsA trade bloc which allows free trade with no barriers between its member states but imposes a common external tariff to trading countries outside the bloc (e.g. EU)
- 20Multilateral agreementAgreement on trade that it negotiated between more than 2 countries or groups of countries
- 21OutsourcingCost saving strategy used by companies who arrange for goods or services to be produced or provided by other companies, usually at a location where costs are lower
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- A level Geography Flashcards on Globalisation, created by Beth Meller on 01/01/2018.
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- Beth Meller
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