What are sweat shops ?
a factory or workshop, especially in the clothing industry, where manual workers are employed at very low wages for long hours and under poor conditions.
What is violence fueled by ? Why ?
The gap between the rich and the poor because unfairness makes people angry.
In what country, can you pay your bills with your face ?
China
People have been talking about "global village ". What does this actually mean ?
The distance between people is becoming smaller
What are 4 economic resources ?
Labour, land, capital and enterprise
One of the following is not capital. What is it ?
Cars/ Software / Hammers / workers
Workers
When countries rely on each other, what is it called ?
Interdependence
What kinds of countries believe in a free market ?
Capitalist countries
How does technology transfer help developing countries ?
They buy it cheaply and use it to improve production
it is cheaper to buy in bulk. What economic concept is referred to ?
Economics of scale / Economies of scale
The poor are the ones who benefit most from globalization.
True or False ? Why ?
False. They lack opportunities to access international markets and funds.
Which of the following do NOT facilitate globalization?
a) Improvements in communications
b) Removal of trade and investment barriers
c) Strict immigration controls
Why ?
C
A multinational company is a firm that owns shares in a foreign company but does not participate in the company's decision making.
True or False ? Why ?
Because it does not operate in 2 different countries
Globalization is both good and bad for firms. Explain.
It can create competition and open up opportunities for companies in a different market
Is globalization harmful to the environment ? Why ?
Yes.
Where are the countries that enjoy the most benefits from globalization ?
Northern Hemisphere
