a) Characteristics

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6 Terms

1
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  • define globalisation


  • the economic integration of nations through freedons in the cross-border movement of people, goods/services, capital, and finance


2
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  • state the characteristics of globalisation


  • foreign ownership of firms

  • movement of labour/capital/finance across borders

  • free trade in goods/services


3
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  • state the factors contributing to globalisation in the last 50 years


  • containerised shipping

  • communications technology

  • growth of transnational firms


4
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  • state the benefits of containerised shipping


  • less theft

  • faster shipping times

  • decreased transport costs


5
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  • state the benefits of communications technology


  • offshoring

  • international promotion

  • international communication


6
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  • state the benefits of the growth of transnational firms


  • global production

  • international trade

  • new workplaces and job creation