Vocabulary list for Globalisation Flashcards Preview

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Flashcards in Vocabulary list for Globalisation Deck (14):
1

Bilateral aid

Given by the government of one country directly to another

2

Code of Practice

A set of rules drawn up by an industry to ensure that workers are treated fairly

3

Corporate Social Responsibility (CSR)

A moral and ethical responsibility a business has to conduct itself in a way that contributes to the wellbeing of its employees, its customers, the local community and the wider world.

4

Development aid

Designed to fund longer term projects that aim to help people improve the quality of life

5

Fair trade

People produce raw materials are paid a fair price for their goods.
"Fair price" - covers the cost of sustainable production for their product
Farmers can continue to plant and grow to make a living
Producers and traders can negotiate a higher price on the basis of quality, organic crops or grades of produce

6

Fairtrade Organisation

Sets a minimum price that a buyer of Fairtrade products has to pay to a Producer Organisation ,
*Not a fixed price - lowest possible for price negotiations between producer and purchaser

7

Free Trade

Free Trade Agreements - legal binging agreements
∆ Two or more states
*Not to add taxes or duties onto each other's goods and services
†Promotes economic interdependence
†Directly enhance national security

8

Globalisation

National and regional economies, societies, and cultures become integrated through the network of trade, communication, immigration and transportation

9

Humanitarian aid

Sent quickly in response to an emergency in order to save lives

10

Land Grab

Buying very large portions of land, in poor countries
*Not allowing any farming or using it to grow crops that are sold abroad for fuel rather than feeding local people

11

Multilateral aid

Given from a fund to which several richer countries contribute
*Money is given as aid from the EU comes from the different European countries

12

Multinational

A business that operates in several countries around the world

13

Non Governmental Agency (NGO)

Local, national or international non profit group.
Perform humanitarian functions
Eg. Oxfarm, Save the Children
∆Provide analysis and expertise, serve as warning mechanisms and help monitor and implement international agreements

14

Unfair trade

People who produce raw materials are paid very little but expected to pay high prices for finished products.
poor people get poorer and the rich get richer