Globalisation: Key Terms/Ideas

Question 1

TNCs

Answer 1

Businesses whose operations are spread across the world

Question 2

GDP

Answer 2

Measure of the financial value of all the goods and services produced within a territory

Question 3

Emerging Economies

Answer 3

Countries experiencing high rates of economic growth - often industrialising

Question 4

Remittances

Answer 4

Money sent home by migrants

Question 5

Interdependency

Answer 5

When 2 places become reliant on financial/political connections with each other

Question 6

Spatial Division of Labour

Answer 6

The idea that TNCs move low-skill jobs ‘offshore’ (due to low labour costs) but retain high-skill management positions in their country of origin

Question 7

Intermodal containers

Answer 7

Containers which are compatible with multiple types of transport

Question 8

Shrinking World (technology)

Answer 8

The idea that technology has made distant places feel closer

Question 9

FDI

Answer 9

A financial injection made by a TNC into a nation’s economy

Question 10

BRICS

Answer 10

5 notable fats-growing emerging economies

Question 11

Trickle-down

Answer 11

The positive impact on peripheral (poorer) regions caused by investment in core (richer) areas

Question 12

Sovereign Wealth Funds

Answer 12

Gov’t-owned investment funds and banks (e.g Qatari Oil)

Question 13

Trade Blocs

Answer 13

Voluntary international organisations designed to strengthen trade/economic stability between members

Question 14

Tariffs

Answer 14

Taxes paid on importing/exporting goods and services between countries

Question 15

Special Economic Zone (SEZ)

Answer 15

An area created with favourable economic conditions (e.g no corporation tax) to attract TNCs and FDI

Question 16

Offshoring

Answer 16

When TNCs move parts of their production process to other countries to reduce costs

Question 17

Outsourcing

Answer 17

When TNCs contract another company to produce components (part of supply chain)

Question 18

Global Production Network

Answer 18

Chain of connected suppliers of components which are involved in manufacturing TNCs consumer goods

Question 19

De-industrialisation

Answer 19

Decline of regionally important manufacturing industries

Question 20

Internal Migrant

Answer 20

Someone who moves between places WITHIN the borders of a country

Question 21

Urbanisation

Answer 21

An increase in the proportion of people living in urban areas

Question 22

Economic Migrant

Answer 22

A migrant who is looking to seek better employment abroad

Question 23

Refugee

Answer 23

People forced to flee their homes due to persecution

Question 24

Intervening Obstacles

Answer 24

Barriers to migration (e.g physical - river + political - border)

Question 25

Natural Increase

Answer 25

Difference between birth rate and death rate

Question 26

Centripetal migration

Answer 26

Movement of people toward the centre of urban areas

Question 27

Cultural imperialism

Answer 27

The practice of promoting culture/language in another nation

Question 28

Soft Power

Answer 28

The global influence a country derives from it's culture, political values and diplomacy

Question 29

Absolute Poverty

Answer 29

When a person's income is too low to meet basic human needs

Question 30

Millennium Development Goals

Answer 30

8 specific objectives set for the global community at the UN Summit in 2000

Question 31

Relative poverty

Answer 31

When a person's income is too low to maintain the average standard of living in a particular society

Question 32

Post-accession migration

Answer 32

The flow of economic migrants after a country has joined the EU

Question 33

Diaspora

Answer 33

The dispersion or spread of a group of people from their original homeland

Question 34

Birth rate

Answer 34

Number of live births per 1000 people per year

Question 35

Nationalism

Answer 35

A political movement focused on national independence and removing threats to sovereignty

Question 36

Post-colonial migrants

Answer 36

People who moved to Europe during the mid 20th century after the collapse of empires

Question 37

Food miles

Answer 37

The distances food travels from farm to fork

Question 38

Transition town

Answer 38

A settlement where businesses have adopted 'bottom-up' initiatives to promote sustainability and reduce reliance on global trade

Question 39

Ethical purchase

Answer 39

An economic transaction where the consumer considers the social/environmental costs of their decision