6.3 Globalisation

• What is the definition of globalisation?

  Interconnectedness through trade
• Governments lower tariffs, quotas, and other trade restrictions
• Match the key aspect of globalisation with its description:

  Economic Integration ↔️ Increased trade and investment

  Technological Advancement ↔️ Faster communication and transport

  Cultural Exchange ↔️ Spread of ideas and values

  Political Cooperation ↔️ Collaboration between governments
• Increased competition in globalisation fosters innovation
• What is one challenge posed by cultural differences in a globalised world?

  Complicated marketing
• What are the three main factors driving globalisation?

  Technological advancements, reduced trade barriers, rise of multinational corporations
• Collaboration between governments to solve global issues is called political cooperation.
• Multinational corporations leverage globalisation through outsourcing, offshoring, and market expansion.
• Increased production and transportation in globalisation can lead to higher carbon emissions.
• Standardization aims to maintain consistent global branding and processes.


  True
• Expanding into new markets to reduce reliance on a single region is called diversification.
• Match the company with its globalisation strategy:

  McDonald's ↔️ Standardized menu with local adaptations

  Zara ↔️ Fast-fashion model with agile supply chain
• Economic integration in globalisation refers to increased trade and investment
• How have technological advancements contributed to globalisation?

  Improved communication and transport
• What are three examples of technological advancements driving globalisation?

  Internet, mobile phones, shipping
• Match the positive impact of globalisation with its description:

  Increased Competition ↔️ Fosters innovation and efficiency

  Economies of Scale ↔️ Reduces production costs

  Expanded Market Access ↔️ Opens new customer bases
• Increased trade and investment between countries is referred to as economic integration.
• The spread of ideas, values, and entertainment across borders is known as cultural exchange.

  True
• What is an example of a trade agreement that reduces trade barriers?

  NAFTA
• Businesses must balance the positive and negative effects of globalisation to operate effectively.


  True
• Diverse languages, customs, and values across countries can complicate cultural marketing.
• What strategy involves tailoring products to local cultural preferences?

  Localization
• Reduced trade barriers are a key driver of globalisation.


  True
• Multinational corporations expand their markets worldwide by outsourcing production.

  True
• Lowering tariffs encourages free trade between countries.


  True
• Increased production and transportation in globalisation contribute to environmental pollution.


  True
• Economic integration in globalisation involves increased trade and investment
• What is a key technological advancement that drives globalisation?

  Faster communication
• What are three drivers of globalisation?

  Technological advancements, reduced trade barriers, rise of multinational corporations
• Technological advancements have reduced the cost of communication and transportation.

  True
• Match the impact of globalisation with its description:

  Increased competition ↔️ Encourages innovation and efficiency

  Ethical concerns ↔️ Raises questions about labor practices

  Expanded market access ↔️ Opens new customer bases
• What is a key ethical concern in globalisation related to outsourcing?

  Fair labor practices
• What is a key benefit of McDonald's globalisation strategy?

  Economies of scale
• Zara's agile supply chain allows it to adapt quickly to changing trends.

  True
• Key terms for globalisation include economies of scale, cultural exchange, and competitive edge.