Globalisation

• What is globalisation?

  Process of increasing world interconnectedness
• How has globalisation affected the production of goods and services?

  It has increased the production significantly
• What are multinational corporations (MNCs)?

  Large businesses operating in multiple countries
• What has accelerated globalisation in the last fifty years?

  Massive increases in trade and cultural exchange
• What does LEDC stand for?

  Less Economically Developed Country
• How does globalisation affect the wealth distribution between countries?

  It often widens the gap between rich and poor
• What are some negative consequences of globalisation for LEDCs?

  Pollution, low wages, and poor working conditions
• What has improved transportation contributed to globalisation?

  Decreased cost of transporting goods internationally
• What role does the World Trade Organisation (WTO) play in globalisation?

  Promotes free trade and removes barriers
• What is inward investment?

  Foreign companies investing in a local economy
• How does globalisation increase awareness of global issues?

  By sharing ideas and experiences across cultures
• What is deforestation?

  The cutting down of trees for land use
• What is globalisation?

  Process of increasing global interconnectedness
• What is sustainable development?

  Development that meets current needs without harming future generations
• How has globalisation affected the production of goods and services?

  It has increased the production significantly
• Who are environmentalists?

  People advocating for environmental protection
• What are multinational corporations (MNCs)?

  Large businesses operating in multiple countries
• What is a major criticism of globalisation?

  It benefits the richest countries disproportionately
• What has accelerated globalisation in the last fifty years?

  Massive increases in trade and cultural exchange
• What is an LEDC?

  Less Economically Developed Country
• How does globalisation affect local economies in LEDCs?

  It can drive local companies out of business
• What is GDP?

  Gross Domestic Product, total value produced
• How does globalisation affect wealth distribution?

  It creates wealth but widens the gap
• How has India's economy changed due to globalisation?

  It has become the fifth largest economy
• What are the consequences of multinational companies operating in LEDCs?

  They may exploit resources and labor
• What is the significance of Bangalore in India's economy?

  It is called the Silicon Valley of India
• What has improved transportation contributed to globalisation?

  Decreased costs of transporting goods
• What is a major benefit of globalisation for India?

  Largest exporter of Information Technology
• What is the role of the World Trade Organisation (WTO)?

  Promotes free trade between countries
• What are some negative impacts of globalisation on agriculture in India?

  Land prices have increased, agriculture declined
• What is inward investment?

  Foreign company investing in a country
• What percentage of the Indian population lived on less than $1.25 per day in 2019?

  80 million people lived on less than $1.25
• How does globalisation increase awareness of global issues?

  By sharing ideas and experiences globally
• What is globalisation?

  Process of increasing global interconnectedness
• How has globalisation affected the production of goods and services?

  It has increased the production significantly
• What is the hope of those who support globalisation in India?

  Wealth created will improve living standards
• What is deforestation?

  Cutting down trees for land use
• What are multinational corporations (MNCs)?

  Large businesses operating in multiple countries
• What is global warming?

  Rise in Earth's average temperature
• What are the benefits and negatives of globalisation for India?

  Benefits:

  • Largest exporter of IT
  • Economic growth and job creation
  • Increased awareness of global issues

  
  

  Negatives:

  • Decline in agriculture
  • Rising land prices
  • Persistent poverty despite growth