Globalisation key words

Question 1

What is Globalisation?

Answer 1

The increasing interconnectedness and interdependence of the world’s economies, cultures, and populations.

Question 2

Define Global connections.

Answer 2

The links between people, businesses, and governments across different countries, through trade, migration, and communication.

Question 3

What does Interdependence refer to?

Answer 3

When countries rely on each other for resources, goods, services, and markets.

Question 4

What is Containerisation?

Answer 4

The use of large standardised shipping containers to transport goods efficiently, driving global trade growth.

Question 5

Explain Time-space compression.

Answer 5

The idea that globalisation makes distant places feel closer due to faster communication and transport.

Question 6

What is Free trade?

Answer 6

International trade without tariffs, quotas, or other restrictions.

Question 7

What does FDI stand for?

Answer 7

Foreign Direct Investment.

Question 8

Define Foreign Direct Investment.

Answer 8

When a company or individual from one country invests directly into production or business in another country.

Question 9

What is Privatisation?

Answer 9

The transfer of ownership of businesses or services from the public (government) sector to private companies.

Question 10

What does Liberalisation entail?

Answer 10

The removal of government controls from the economy to encourage free markets and trade.

Question 11

What are Special Economic Zones (SEZs)?

Answer 11

Designated areas within a country with special economic regulations to attract foreign investment and boost trade.

Question 12

What are Flows in the context of globalisation?

Answer 12

The movement of goods, services, capital, people, and information across borders.

Question 13

Define Accelerated.

Answer 13

Speeded up; referring to the rapid increase in the pace of globalisation since the late 20th century.

Question 14

What does the term Shrinking world mean?

Answer 14

The idea that advancements in technology and transport make the world feel smaller.

Question 15

What is meant by Global communication?

Answer 15

Worldwide communication networks (e.g., the internet, mobile technology) that connect people across the globe instantly.

Question 16

What is the purpose of the WTO?

Answer 16

An international body that regulates global trade and aims to promote free trade.

Question 17

What does IMF stand for?

Answer 17

International Monetary Fund.

Question 18

What is the role of the IMF?

Answer 18

An international organisation that provides loans and support to countries facing financial instability.

Question 19

What is the World Bank?

Answer 19

An international organisation that provides financial and technical assistance to developing countries for development projects.

Question 20

Define Trade Bloc.

Answer 20

A group of countries that have joined together to promote free trade between themselves (e.g., EU, NAFTA).

Question 21

What are Subsidies?

Answer 21

Financial support given by governments to businesses to make them more competitive.

Question 22

What does ‘Switched off’ refer to?

Answer 22

Countries, regions, or places that are poorly connected to global networks and processes.

Question 23

Explain Global shift.

Answer 23

The movement of manufacturing and services from developed countries to lower-cost developing countries.

Question 24

What is Over-exploitation?

Answer 24

Using resources faster than they can be replenished, often driven by global demand.

Question 25

Define Economic migration.

Answer 25

Movement of people for the purpose of improving their standard of living and job prospects.

Question 26

What does Scale refer to in globalisation?

Answer 26

The level at which globalisation processes operate: local, national, regional, or global.

Question 27

Define Interconnected.

Answer 27

Linked together; describing how different parts of the world are tied through economic, political, and cultural processes.

Question 28

What are Global hub cities?

Answer 28

Highly connected cities that are important in global networks for trade, finance, culture, and communication (e.g., London, New York).

Question 29

Who are Russian oligarchs?

Answer 29

Wealthy and powerful Russian businesspeople who gained significant global influence after the fall of the Soviet Union.

Question 30

Define Cultural erosion.

Answer 30

The loss or weakening of traditional cultural practices, languages, or identities due to global influences.

Question 31

What is meant by Built environment?

Answer 31

Human-made surroundings that provide the setting for human activity, such as cities, buildings, and infrastructure.

Question 32

What is Global culture?

Answer 32

The spread of a single culture across the world, often influenced by Western ideas, brands, and media.

Question 33

Define De-valuing.

Answer 33

The process by which local traditions and cultures lose importance in favour of global or dominant cultures.

Question 34

What are Disparities?

Answer 34

Differences or inequalities, often referring to wealth, health, or development levels between places or groups.

Question 35

What does Development gap refer to?

Answer 35

The widening difference in levels of development and quality of life between the richest and poorest countries.

Question 36

What are Economic measures?

Answer 36

Indicators used to assess a country’s economic performance, such as GDP or income per capita.

Question 37

What are Composite indices?

Answer 37

Indicators that combine several measures into one overall score to assess development or inequality (e.g., HDI).

Question 38

What does HDI stand for?

Answer 38

Human Development Index.

Question 39

What does the Human Development Index measure?

Answer 39

A composite index measuring development using life expectancy, education, and income.

Question 40

What is the GII?

Answer 40

Gender Inequality Index.

Question 41

What does the Gender Inequality Index measure?

Answer 41

A composite index measuring gender inequalities in health, education, and political and economic status.

Question 42

Define Inequality.

Answer 42

The unequal distribution of resources, wealth, or opportunities across society or between countries.

Question 43

What is the Gini Coefficient?

Answer 43

A measure of income inequality within a country, ranging from 0 (perfect equality) to 1 (perfect inequality).

Question 44

What does Rapidity refer to in globalisation?

Answer 44

The speed at which changes occur, often used to describe the fast pace of globalisation and its impacts.