Globalisation Revision Flashcards Preview

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Flashcards in Globalisation Revision Deck (7)
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1
Q

Globalisation definition

A

The free movement of goods, capital, people, services and technology on a global level.

2
Q

OPEC

A

Organisation of the Petroleum Exporting Counties. An organisation of 14 nations that aim to unify and coordinate petrol prices and stabilisation off oil markets

3
Q

Privatisation definition

A

The transfer of business or company from private hands to public hands.

4
Q

Monopoly definition

A

A market structure where one company has complete control over a market. This business is able to set prices and entry into the market is extremely difficult

5
Q

NAFTA definition

A

North American Free Trade Agreement. Between Canada, America and Mexico that aims to eliminate trade barriers between these nations

6
Q

TNC Definition

A

TransNational Corporations. A company whose operations and investments extend beyond the borders of the state in which it is registered.

7
Q

NGO Definition

A

Non Government Organisation. Not for profit organisations what are funded by donations or subscriptions. Founded to deal with social, political or community issues eg. Poverty, helping people affected by war, protecting the environment