Topic 3- Globalisation

• What is globalisation?

  The process of increased global interconnectedness
• Why has globalisation taken place?

  Due to increased transportation and communication
• What has decreased, allowing for trade and travel?

  The cost of transporting people and goods
• How has communication improved due to globalisation?

  Through the internet and mobile technology
• What is one element of globalisation in the economic sector?

  Transnational corporations (TNCs)
• What are the elements of globalisation?

  • Economic: TNCs, global manufacturing, pricing
  • Social: Online networks, communication, advertisement
  • Political: Decisions by organizations like the UN
  • Cultural: Rapid spread of news and events
• What is one advantage of globalisation?

  TNCs provide new jobs in LICs
• What is a disadvantage of globalisation?

  It threatens the world's cultural diversity
• What does TNC stand for?

  Transnational corporation
• Why do TNCs have factories in LICs?

  To avoid safety regulations and reduce costs
• Where are TNCs' headquarters typically located?

  In high-income countries (HICs)
• How does globalisation help TNCs?

  By improving shipping and electronic communication
• Name three global fashion brands.

  Levi’s, Gucci, Reebok
• What is fast fashion?

  The mass production of cheaply made clothing
• What is a code of conduct in the fashion industry?

  Guidelines to improve workers' conditions
• What might a code of conduct include?

  Minimum wages and safety equipment use
• What is a fashion victim?

  A person negatively impacted by fashion
• What are the advantages of the fashion industry?

  • Provides jobs
  • Makes clothing more affordable
• What are the disadvantages of the fashion industry?

  • Exploitation of workers
  • Child labour
  • Harmful chemicals released
  • Contribution to greenhouse gas emissions