4.1.1 Globalisation

• What is the definition of globalisation?

  Interconnectedness through exchange
• The main drivers of globalisation include technological advancements, reduced trade barriers, and increased mobility of capital and labour
• Order the dimensions of globalisation according to their primary focus:

  1️⃣ Economic

  2️⃣ Political

  3️⃣ Social

  4️⃣ Cultural
• Global organisations like the UN promote global governance and stable relations.
• What does FDI stand for in the context of globalisation?

  Foreign Direct Investment
• Technological diffusion refers to the spread of new technologies across borders
• Match the driver of globalisation with its description:

  Technological advancements ↔️ Faster exchange of goods and information

  Reduced trade barriers ↔️ Lower tariffs promote commerce

  Increased mobility of labour ↔️ Workers seek opportunities abroad
• What is the economic dimension of globalisation primarily driven by?

  Multinational corporations
• UN peacekeeping missions are an example of the political dimension of globalisation.
• Increased consumer choice is one of the economic benefits of globalisation
• What is one social challenge of globalisation mentioned in the study material?

  Loss of cultural identity
• Environmental degradation is a cost associated with increased global production and transport.
• What is one example of income inequality caused by globalisation?

  Wealth concentration in developed nations
• The loss of cultural identity due to globalisation is characterized by the dominance of global culture.
• Environmental degradation is a challenge of globalisation caused by increased production and transport.
• Where are examples of labour exploitation commonly found due to globalisation?

  Garment factories in Bangladesh
• Globalisation is the increasing interconnectedness of countries through the exchange of goods, services, capital, technology, and people.
• Increased trade is a key characteristic of globalisation.
• What does FDI stand for in the context of globalisation?

  Foreign Direct Investment
• Technological diffusion refers to the spread of new technologies across borders.
• Order the main drivers of globalisation from most to least direct impact.

  1️⃣ Technological advancements

  2️⃣ Reduced trade barriers

  3️⃣ Increased mobility of capital and labour

  4️⃣ Reduced transport costs
• Match the dimension of globalisation with its key activity:

  Economic ↔️ Investment

  Political ↔️ Governance

  Social ↔️ Migration

  Cultural ↔️ Education
• What is one example of economic activity driving globalisation?

  Amazon expanding globally
• International organizations like the WTO contribute to the political dimension of globalisation.
• The social dimension of globalisation focuses on the movement of people and access to diverse cultures.
• What is one example of cultural sharing through globalisation?

  Cultural exchange programs
• What is one example of economic growth resulting from globalisation?

  Increased trade volumes
• Globalisation enhances cultural exchange through media, tourism, and international events.
• Innovation is driven by the sharing of new technologies and ideas across borders due to globalisation.
• What is one example of income inequality caused by globalisation within countries?

  Exploitation of labour in developing countries
• The dominance of global culture in globalisation can lead to the decline of indigenous languages.
• Deforestation for agriculture contributes to environmental degradation caused by globalisation.
• Where are examples of labour exploitation commonly found due to globalisation?

  Sweatshops in China
• Match the stakeholder with a drawback of globalisation:

  Businesses ↔️ Increased competition from MNCs

  Consumers ↔️ Risk of unsafe goods

  Governments ↔️ Sovereignty challenges

  Workers ↔️ Labour exploitation
• What is one benefit for businesses from globalisation?

  Expansion into new markets
• Increased tax revenue is one benefit for governments from globalisation.
• What is one drawback for workers due to globalisation?

  Wage suppression
• International organisations such as the WTO, IMF, and UN play a crucial role in promoting trade and addressing global challenges.
• What is the main role of the World Trade Organization (WTO)?

  Promotes free trade
• The International Monetary Fund (IMF) ensures global economic stability by monitoring economic policies.