Theme 4 Economics

Industrialisation

The process by which an economy transforms from primarily agricultural to one based on the manufacturing of goods and services. It typically involves increased mechanisation, factory production, and urban growth.

Globalisation

A process in which national economies have become increasingly integrated and interdependent. It is an increased flow of goods, services, capital, technology, information and labour amongst a growing number of nations.

Containerisation

A system of intermodal freight transport using standard-sized, reusable containers to facilitate efficient and secure handling, movement, and storage of goods. Key in reducing transport costs and times, hence boosting global trade.

Foreign Direct Investment (FDI)

Investment made by a company or individual in one country into business interests located in another country. This often includes setting up operations or acquiring tangible assets, such as factories or infrastructure. 

Global branding

Creating a consistent brand image and identity across international markets to build recognition and loyalty.

Global sourcing

Refers to obtaining goods or services from international suppliers to reduce costs and improve efficiency. 

Depreciation

A fall in the value of a currency in a floating exchange rate system, caused by market forces.

Devaluation

A deliberate lowering of a currency's value by the government in a fixed or semi-fixed exchange rate system.

Appreciation

A rise in the value of a currency due to market forces in a floating exchange rate system.

Revaluation

A deliberate increase in the value of a currency by a government in a fixed exchange rate system.

De-industrialisation

The process by which the industrial sector, particularly manufacturing, declines in a region or economy. It typically involves a fall in factory output, job losses in industry, and a shift towards services.

Deglobalisation

A process in which national economies become less integrated and interdependent. It involves a reduction in the flow of goods, services, capital, technology, and labour across borders, often due to protectionism, political tensions, or efforts to boost domestic industries.