IG Globalisation and international trade

Free trade means 

• the countries use the same currency
• No trade barriers
• there is a quota on some goods
• trade is quick and easy

The use of trade barriers to protect a nation’s industries from foreign competition

• Balance of trade
• NAFTA
• Quotas
• Protectionism 

What is globalisation?

• The process by which the world is becoming increasingly interconnected.

• The process by which the world is becoming less interconnected.

• The process by which the world is becoming more divided.

Which of these factors have influenced globalisation?

• High taxes and investment restrictions.

• Communication systems and the internet.

• Poor standard of living and unemployment.

Which factor might attract a multinational corporation to a country?

• Good tourist attractions.

• Cheap raw materials.

• High average monthly wage.

Which one of the following is a negative consequence of globalisation for less-developed countries

• Enhanced cultural uniqueness

• Skills transferred to domestic workers

• Improved terms of trade

• Wider income inequalities

What are some positive effects of Globalisation ?

• Increased freedom to travel and immigrate,better access to medicine,information, and technology.
• Lower prices for developed countries and low paying jobs in underdeveloped countries
• Less pollution in the world
• All of the above

A disadvantage of globalisation for manufacturers in the UK would include which one of the following

• Access to wider markets

• Difficult to find workers

• Low-cost competition from overseas firms

• The spread of technology could cause local unemployment

Globalisation is good because of an ________________ in standard of living , but is bad because there is a _____________ in local cultures and traditions

• increase / decrease
• decrease / increase
• increase / increase
• decrease / decrease

Globalisation is:

• the introduction of the internet to make us closer to others in the world. 
• the breakdown of traditional barriers between nations through technology and transport
• faster travel around the world
• the movement of people and ideas around the world.