What Is Globalisation? (Grade 11 NSC Matric Economics): Flashcards
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Globalisation definition
Globalisation definition
Increasing interconnection between nations in trade & investment
Tariffs
Tariffs
Taxes on imports
Import quotas
Import quotas
Limits on quantities of imports
Multinational companies definition
Multinational companies definition
Large firms producing/distributing goods in multiple countries
Free trade meaning
Free trade meaning
Products flow freely between countries without barriers
WTO establishment year
WTO establishment year
1995
WTO member countries by 2010
WTO member countries by 2010
153
IMF purpose
IMF purpose
Improving and stabilising the world's economy
World Bank purpose
World Bank purpose
Provides loans & grants to improve developing country economies
Globalisation effect on prices
Globalisation effect on prices
Reduced prices due to increased international competition