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Globalization Vocab

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  • What is an outlet?
    A store/shop.
  • What stage of production is a warehouse used in?
    Manufacturing.
  • What is an Emerging economy?
    emerging economy is a country that has some characteristics of a developed country but does not meet all the standards yet.
  • Explain what Eco-Friendly means.
    Something that does the least possible damage to the environment.
  • What will a country need to do if their natural resources are used up?
    They will have to rely on another country.
  • What is the infrastructure of a country?
    Roads, Railways, Bridges, Electricity and Water
  • What is the Fair Trade Organization?
    They set the minimum price that should be paid to producers of raw materials.
  • What is pollution?
    Pollution is the introduction of contaminants into the natural environment that cause adverse change.
  • What does Monopoly mean?
    A company that dominates their industry.
  • What is a dry port?
    A transport center where goods are loaded and unloaded that is not near water.
  • What does Consumption mean?
    The amount of something you use, eat or drink.
  • What does Domestic mean?
    Within the country.
  • Is globalization good or bad?
    It is neither good nor bad, it has both pros and cons.
  • What is Fair Trade?
    People who produce raw materials are paid a fair price.
  • What could happen to immigrants without suitable qualifications?
    Their visas could be denied.
  • What does Discount mean?
    A reduction in price.
  • What is an imported product?
    A product that comes from another country.
  • Where was IKEA founded?
    Sweden
  • What is a developed country?
    countries with a lot of industrial and economic activity where people generally have high incomes.
  • What is a developing country?
    countries with little industrial and economic activity where people generally have low incomes.
  • Is the amount of migrant labor expected in increase or decrease?
    Increase.
  • What does Deforestation mean?
    the removal of a forest or stand of trees from land which is then converted to a non-forest use
  • What happens to the dollar during inflation?
    Its value decreases.
  • What did the silk road connect?
    Europe and China
  • What does Inflation mean?
    When prices increase over time.
  • What is a multinational company?
    A company that operates in several countries.
  • Explain the word Influence.
    The power to have an effect on people or things.
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