Globalisation Overview and Factors
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Questions and Answers

What is a key characteristic of globalisation from a business perspective?

  • Increased trade protectionism among countries
  • Freer movement of capital, goods, and services (correct)
  • Reduction in multinational corporations
  • Decreasing interdependence of economies
  • Which factor is considered to promote globalisation through trade?

  • Local industry regulations
  • World Trade Organisation (correct)
  • Regional trade agreements
  • Government tariffs
  • How have improvements in transportation contributed to globalisation?

  • By enabling economies of scale (correct)
  • By reducing the capacity of shipping
  • By limiting shipping routes
  • By increasing travel costs for goods
  • Which argument is presented by opponents of globalisation?

    <p>Globalisation favours powerful nations</p> Signup and view all the answers

    What is one criticism of globalisation related to culture?

    <p>It leads to the homogenisation of world culture</p> Signup and view all the answers

    Which of the following is NOT a factor influencing globalisation?

    <p>Adoption of ecological regulations</p> Signup and view all the answers

    How is the distribution of benefits from globalisation often viewed?

    <p>Consolidation of wealth in developed nations</p> Signup and view all the answers

    What is a common belief about trade in relation to globalisation?

    <p>It facilitates international trade expansion</p> Signup and view all the answers

    Which issue is commonly cited as a challenge for local businesses due to globalisation?

    <p>Enhanced competition from large corporations</p> Signup and view all the answers

    What role does social media play in the context of globalisation?

    <p>It facilitates global connectivity and communication</p> Signup and view all the answers

    Study Notes

    Globalisation

    • The increasing interdependence of world economies
    • Freer movement of capital, goods and services between countries
    • Significant increase in international trade
    • Rise in multinational corporations

    Factors Influencing Globalisation

    • Freedom of Trade
      • Promoted by institutions such as the World Trade Organisation (WTO)
    • Improvements in Transportation
      • Larger ships
      • Economies of scale (lower cost per item for larger quantities)
      • Increased speed of transport
    • Improvements in Communication
      • Internet and mobile communication
      • Social media platforms
    • Labour Availability and Skills in LDCs (Least Developed Countries)
      • Less regulation
      • Lower labour costs
      • Higher skill levels

    ### Globalisation: Good or Bad?

    • Supporters
      • Promotes economic development in poorer countries
      • Leads to greater economic, social, and cultural equality
    • Opponents
      • Increases the gap between the world’s richest and poorest countries
      • Operates in the interests of powerful nations, dominating world trade at the expense of developing countries
      • Homogenises world culture, potentially eroding local languages and traditions
      • Local businesses struggle to compete with multinational corporations

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    Description

    This quiz explores the concept of globalisation, emphasizing the increasing interdependence of world economies and the factors that influence this phenomenon. It also addresses the arguments for and against globalisation, touching on economic, social, and cultural impacts. Test your knowledge on how globalisation shapes our world today!

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