Globalisation and Trade (Edexcel A-Level Economics A): Flashcards

Process where world economies become more closely integrated

Investment in one country by companies based in other countries

Firms with production activities spanning multiple countries

Investment to produce within and sell to a specific market

Investment to access natural resources or skilled/cheap labour

Investment to produce in most efficient location globally

Economic shift away from manufacturing towards service sector

Organised tariff reduction rounds; replaced by WTO

Meeting present needs without compromising future generations

Increased choice and potentially lower prices