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Global Systems Keywords Flashcards

(61 cards)

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1
Q

Definition of Globalisation

A

The interdependence of countries and integration of economies

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2
Q

Definition of free trade

A

When there’s no tariffs or barriers between trade

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3
Q

Define fair trade

A

When the producer receives a larger share of the revenue due to cutting out the middle man

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4
Q

Define global common

A

An area that is not owned by a single country but governed collectively

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5
Q

Define United nations

A

A global system that promotes international cooperate and maintain international order

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6
Q

Define global system

A

Global systems are the framework of globalisation

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7
Q

What is the IMF

A

The international monetary fund is there to provide financial stability, control international trade, promote economic growth and reduce poverty

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8
Q

What is the world bank

A

A global system that provides loans and money for national projects to rescue poverty

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9
Q

Define NGO

A

A non-govermental organisation

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10
Q

What is the shrinking world effect?

A

The idea that due to the advancement in technologies and the transport the world has shrunk

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11
Q

What is interdependence?

A

When two countries rely upon each economically

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12
Q

Apple?

A

A large TNC located in California, America that manufactures it products through FoxComm in China

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13
Q

Shell?

A

A large TNC located in the Netherlands that has a large influence in LIC’s like Nigeria

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14
Q

What is the Tragedy of the commons?

A

The idea that people will always act in selfish ways and exploit a common area

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15
Q

FDI

A

Foreign direct investment

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16
Q

Trade deficit

A

The deficit of a countries imports and exports

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17
Q

Primary sector

A

Where the “goods” are grown or harvested

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18
Q

Secondary sector

A

Where the “goods” are manufactured or used to create something

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19
Q

Tertiary sector

A

The service sector

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20
Q

Trade bloc

A

A group of countries that has reached a common trading agreement that applies to all of them

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21
Q

European Union

A

A trade bloc of 28 countries located in Europe

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22
Q

Antartica

A

A global common found in the southern hemisphere

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23
Q

SCAR

A

Scientific committee of Antarctic research

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24
Q

WTO

A

World trade organisation

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25
Global governance
The integration of political institutes internationally
26
UNDP
The United Nations development programme
27
UNEP
The United Nations environmental programme
28
Antarctic treaty
A treaty that 53 countries have signed to protect and converse the Antarctic as the "last wilderness"
29
International whaling moratorium
A treaty created to limit and reduce the amount of whaling
30
Kuala Cocoa
A cocoa co-operative located in west Ghana
31
Southern Ocean
This is the most southern Ocean
32
What is OPEC?
The Organisation of petroleum exporting countries is a trade block to decide the policies and prices of oil globally
33
What is the EFTA?
The European free trade association is a European trade block made up of four countries who are not part of the EU, provides free trade
34
What does the WTO do?
This regulates global trade trying to make it flow as smoothly and as predictably as possible, to do so they do some of these things; * act as a forum * settle trade disputes * assist developing countries with trade policy issues
35
Where does the WTO get it's money from?
Each member (160) pays a quota depending on its economic size
36
What is the aim of the IMF?
"foster global monetary cooperation, secure financial stability...promote high employment and sustainable growth and reduce poverty around the world"
37
How are the IMF and world bank different?
The IMF promotes global trade and investment whilst the world bank is more focused on long term development
38
How does the IMF get it's money?
The members all pay a quota depending on their economic size
39
What is the aim of the world bank?
To promote investment globally, and bring equality globally
40
What does the world bank do?
Provides low interest loans and focuses on improving health and education services
41
What is an example of the world bank providing funding for a top down project?
A relief fund of $1.1 billion given to Chad for their government to spend on health and education services
42
What is an example of a bottom up project funded by the world bank?
The Gabon urban development programme which was used to improve the living conditions of the poorest communities in three different cities
43
What is SAARC?
The south Asian association for regional cooperation
44
What is the aim of SAARC?
To improve the quality of life through the acceleration of economic growth, social progress and cultural developments
45
How does SAARC achieve its aims?
By focusing on issues such as telecommunications, energy, climate change, transport, poverty, technology, trade, education, food security and tourism
46
What is NAFTA?
The North American free trade agreement
47
What were NAFTA's aims?
Eliminate trade barriers, promote free competition, increase investment opportunities and maintain the global economic competiveness
48
What is the aim of the UN?
1. Maintain world peace 2. Develop relationships amongst nations 3. Foster cooperation amongst nations 4. Provide a forum for bringing countries together
49
How many members does the UN have?
193
50
What is Mercosur?
A south American trade bloc consisting of 10 members
51
What are the aims of Mercosur?
It allows free movement and free trade to occur both internationally and globally
52
What is the Pacific alliance?
It is a trade bloc that consists of 7 countries on the Pacific coastline
53
How does the Pacific alliance differ from Mercosur?
This trade bloc is open to bilateral agreements such as dealing with the US and with a Asia
54
Embargoes
This is the banning of trading with another country
55
How many millennium goals were there intially?
8
56
Name a TNC that has a global reach?
Apple
57
How does Apple help LIC's?
By proving FDI which allows for development and economic boom
58
Why does Apple manufacture in China?
This is due to low labour costs and substandard labour conditions
59
What is average monthly wage in Foxcomm city?
$150 to $200, above the average however
60
Where is Apples European headquarters located?
Cork , Ireland
61
How many people are employed in Apples European headquarters?
4000 workers

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