ch6 globalisation

Question 1

overarching factors contributing to globalisation

Answer 1

technological advancements
growth, MNCs

Question 2

technological advancements

Answer 2

develop transportation
- speed: travel faster, cover longer distance
- capacity: more ppl, goods carried per trip
- cost: lower transport cost cuz of faster movement, larger volume goods

develop digital tech
- generate, store, process data
- facilitate comm. btwn ppl, business, country
- share info, ideas across time zones, distances

Question 3

MNCs growth, tech advancements causing each other, keyword

Answer 3

• MNCs demand -> global effcient business encourage tech advancements

Question 4

keywords for globalisation

Answer 4

• foreign investments
• country participate, international trade, goods, svcs
• integration, econ., one syst
• interdependant
• free trade

Question 5

MNCs keywords

Answer 5

• large corporations
• various countries
• supply chains
• global, scope, operation
• link numerous ppl
• facilitate exchange, ideas

Question 6

foreign direct investments keywords

Answer 6

• govt of country invest -> another country
• corporations set up in other countries

Question 7

advantages of globalisation (company, global)

Answer 7

• allow us diversify sources
• FDIs -> job creation
• new markets, business can expand

Question 8

advantages of globalisation
individual

Answer 8

• better job opportunities, higher wages
• foreign investments, internet -> different job, business opportunities

Question 9

disadvantages of globalisation
(company, global)

Answer 9

• dependency, reliability, overseas markets -> vulnerabilities, economic shocks

Question 10

disadvantages of globalisation
(individuals)

Answer 10

• MNCs relocate elsewhere
• loss of jobs, always need, upskill

Question 11

how can country be economically competitive

Answer 11

country has
1. infrastructure, tech
2. political stability
3. quality, cost, labour
4. govt policies