TNC’S Flashcards
(20 cards)
What is a TNC?
A TNC stands for transnational corporation. It is a global buisness that operates in two or more countries. A TNC buisness may be originated in one country, but links to other countries as it is global. A TNC is just one element of globalisation and has a big expect on the economy.
Why does Walmart manufacture in China?
• It costs less
• Walmart dastneed to pay the workers as much
• China’s population is bigger - wider range of workers
• Wages are cheaper in china
• TNCs in America have to follow very strict enviromental laws
• China has a pleniful young Workforce-occasional Child labour
• No minimum wage in china
• Land is much cheaper to buy in china
• There are 900 million people of working age in China - 5x more than in America.
Why does the population of China affect why Walmart manufactures there?
There is a much wider range of workers in china including occasional child workers. There is also a higher work demand because of the huge population so people are willing to be paid less if it means they can get an occupation.
What is the World economy?
The word economy means the process in which goods and services are produced, sold and bought in places around the World. The economy contributes to the resources or wealth held by a country or region.
What does the primary sector mean?
The extraction of raw materials. (Farmer, fisher)
What does the secondary sector mean?
Makes and distributes finished goods. (Builder, electrician)
What does the tertiary sector mean?
Anything that provides a service to other people. (Teacher, doctor)
What does the quaternary sector mean?
The intellectual aspect of the economy. (Robotics, AI)
What does pre-industrial mean?
The period of time befere a country goes through the Industrial revolution.
What does industrial mean?
The time of an industrial revolution When a country’s economy relies heavily on manufacturing (making things).
What does post-industrial mean?
The period of time following deindustrialisation when a country’s economy makes more money from the tertiary sector (services).
What does the Clark-fisher model look like?
Primary- a bump going upwards from the left side but then accelerating downwards.
Secondary- a line through middle with a bump in the middle
Tertiary- opposite of primary.
Quanternary- a very small cut off line in the bottom right corner.
What does globalisation mean?
Globalisation is the process by which the world is becoming increasingly interconnected because of massively increased trade and cultural exchange. Globalisation has been taking place for hundreds of years but has sped up enormously over the last half-century.
What does cultural exchange mean?
The exchange of two or more cultures e.g stories, food, fashion and ideas.
Why has globalisation accelerated?
. Wi-fi (world wide web)
. Global finance
. Technology - AI
. Transport
. Social media
. Inflation
. Cargo ships - various materials being traded
Why has Shein become so successful?
A mix of great marketing through social media, being incredibly accessible and cheap, clothes being sold in a huge variety, having fast delivery and edited models.
What are the disadvantages of Shein?
Bad for the environment because of the huge amount of clothes produced, extremely stressful working conditions, over-worked and under paid workers, the brand is vague in addressing itsproblems.
What happened to the Aral sea and Citarum river?
Both locations were utterly destroyed due to the pollution caused by fast-fashion factories. Toxins from these factories was essentially dumped into the these locations, causing them to either completely disappear or to be left in deadly conditions. Both places have hugely affected the climate and temperature, along with causing diseases for the people and habitats living nearby.
Where is the Citarum river located?
Indonesia - between the contents Asia and Australia.
Where is the Aral Sea located?
The Northen hemisphere. It is in the continent of Asia and located between Kazakhstan and Uzbekistan.
