Study

Globalisation 5h yr Lesson 1 and Lesson 2

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  • List 1 factor that encourages globalisation
    Trade agreements (EU)
  • List 1 factor that encourages globalisation
    Internet / communication
  • Define Globalisation + example
    Increasing connection of countries through trade, tech & business Example: Irish people buying from Amazon
  • Name 1 and explain impact on business
    More competition → harder for small firms
  • Name 1 and explain impact on business
    Access to larger markets → more sales globall
  • Name 1 and explain impact on consumers
    Overconsumption → more waste
  • List 1 factor that encourages globalisation
    Faster transport
  • What is interdependence? Give an example.
    Countries rely on each other for goods/services Example: Ireland imports clothes from Asia
  • Explain multinational company (MNC/TNC)
    A company that operates in many countries Example: Google / Nike
  • Define Internationalisation
    Expanding a business into foreign markets
  • Name 1 and explain impact on consumers
    More choice → wider range of products
  • Name 1 and explain impact on consumers
    Lower prices → more competition
  • Why do MNCs locate in Ireland?
    Low corporation tax Skilled workforce Access to EU market English-speaking country
  • List 1 factor that encourages globalisation
    Improved technology
  • List 1 factor that encourages globalisation
    Multinational companies
  • Name 1 and explain impact on business
    Supply chain risk → delays affect business
  • Name 1 and explain impact on business
    Cheaper suppliers → lower costs
  • Name 1 and explain impact on consumers
    Environmental impact → more shipping
  • What is a global company? Give an example.
    A business that operates in many countries as one system Example: Apple / McDonald’s / Amazon
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