Geography paper 2

• Acquisition


  A transaction where a TNC buys another company in order to expand (usually a smaller company)
• Asylum Seeker


  People who have left their country and are seeking asylum in another, waiting to be granted residency and to become a refugee
• Containerisation


  A logistical system of transporting large amounts of goods in steel containers (each carrying 25000kg of goods) Malcom Mclean
• Core Region


  Wealthier, industrially developed countries that benefit and control global markets, making periphery regions depend on them
• Cultural Diffusion


  The spread of cultural beliefs and social activities into different cultures
• Cultural Erosion


  The reduction of a culture due to globalisation
• Cumulative Causation


  Like a multiplier effect, "Success breeds Success". As the core regions increase in prosperity the periphery regions will too due to their links with the core
• Deindustrialisation


  A reduction in industrial capacity, leading to social and economic change within a region
• Diaspora


  'To scatter about' - People displaced from their homeland, voluntarily or forced
• Downward Transition Zones


  A country or city with predicted economic decline, industrial reduction or switched off from globalisation (e.g. Scotland, Turkey, Brazil)
• Economic Migration


  Movement of migrants to improve financial income or standard of living
• Economies of Scale


  The concept of increasing profits by producing a larger amount of products, as overall the average price to manufacture each product is lowered
• Foreign Direct Investment (FDI)


  An investment by one country or business with an interest in another country
• Global Common


  An area that does not belong to one country, but instead belongs to everyone, including: the atmosphere, international waters, outer space, and Antarctica
• Global Governance


  The process of global management, where multiple nations act together in matters that affect the entire world
• Global Hubs


  Cores that demonstrate connections to the world (through trade, ideas, migration, etc). TNCs and foreign direct investors will show an interest to base here
• Globalisation


  The growing interdependence of countries through cross-border transactions (capital, technology, migration, knowledge, culture, etc)
• Glocalisation


  The adaptation of a good offered by a TNC to suit a local market
• High-Level Service


  Services that require skilled employees and can have complicated processes e.g. financial services
• Interdependence


  The theory that nations depend on each other economically, politically, socially and environmentally
• International Bank for Reconstruction & Development (IBRD) and World Bank Group (WBG)


  Both offer loans and temporary financial assistance to developing countries
• International Monetary Fund (IMF)


  A fund of 189 member countries with the aim to aid each other to achieve financial stability and provide loans for development
• KOF


  Index of Globalisation which takes into account the social, economic and political globalisation of a state
• Accessibility


  How easy it is to travel to a place or interact with an individual
• Agriculture Based Regeneration


  The focus of regeneration is to help local farms produce extra revenue such as creating farm shops, building the reputation of local produce and starting local farm attractions (maze mazes, muddy assault courses, tractor trailer rides etc.)
• Liberalisation


  A reduction in government control within industry, creating opportunity for greater participation from private businesses and TNCs within an industry
• Amenity Value


  The value of a resource to locals and businesses (beaches, timber, coal)
• Built Environment


  The buildings and infrastructure within an urban area
• Low-Level Service


  Services that require little training or skills that can be easily learnt e.g. customer service call centres
• Capital


  Productive assets, goods or financial stakes
• Central Business District (CBD)


  The centre of a city, containing a high density of businesses and TNC headquarters
• Merger


  TNCs join to form one larger company, helping to form foreign links if the TNC is from a foreign country
• Council Estate


  Consisting only of social housing, with tenants on subsidised rent
• NGOs


  Non-government Organisations - these organisations usually have a weaker influence over global governance
• Counter Urbanisation


  An increase in the proportion of a population living within rural areas, due to migration from urban to rural regions
• Offshoring


  Company moves parts of its operations to another country, often to save money
• Cultural Enrichment


  The addition of ideas, traditions and beliefs due to the arrival of new people
• Outsourcing


  A business contracts outside businesses to complete some of their work, with the aim to reduce costs
• Cultural Erosion


  The loss of a culture, resulting in a change in ideas or disregard for traditions
• Periphery Region


  Less wealthy, developing/ less developed countries that have less power over global markets