Globalisation Vocab Review

What does interdependence mean?

• Interdependence is when groups operate independently without any influence from each other.

• The mutual dependence two or more groups have on each other

• Interdependence is the situation where groups work together but do not rely on each other.

• Interdependence means that each group has no impact on others and acts in isolation.

What is the difference between developing and developed countries?

• Developed countries are wealthy, whilst developing countries are poorer

• Developing countries are the richest, whilst developed countries are the poorest

• The difference in culture

• The level of achievement in sport competitions, such as the Olympics

What is capitalism?

• An economic system where the government has full control

• A society where nobody can own private property

• Where factories are set up to tempt overseas companies to come to your country

• An economic system where people are free to do as they please to earn money

These things are goods that are brought into a country

This tells a company how much of a product they should create

• The level of supply

• The level of demand

• The level of exploitation

• The level of sustainability

These save a lot of money, and therefore earn a lot more profit, due to globalisation

• Developed countries

• Government

• Transnational Corporations (TNCs)

• Small businesses

Australia is an example of which of these?

• Importer

• Exporter

• Commodity

• Developed country

The amount of a good that has been created

• Demand

• Supply

• Commodity

• Export

Globalisation is trending which way?

• Staying the same

• Increasing every day

• Decreasing every day

• Causing increased independence

The main loser out of globalisation

• Developed countries

• Developing countries

• Consumers

• Environment