Globalization 101
This term describes the increasing integration of economies around the world.
What is Globalisation
Advances in this, such as the internet and container shipping, speed up globalization.
What is technology?
Visitors flock to Montego Bay and Negril, making this industry a top earner of foreign exchange.
What is tourism?
This regional group, founded in 1973, includes Jamaica as a member.
What is CARICOM?
Access to larger markets for exports is a benefit of globalization. True or false?
What is true?
Globalization is called a historical process driven by human innovation and this type of progress.
What is technological progress?
Firms like Coca-Cola that operate in many countries are called this.
What are multinational corporations (MNCs)?
Jamaica's Currency?
What is the Jamaican dollar?
The C in CARICOM stands for Caribbean and this word.
What is Community?
When local producers cannot compete with cheaper imports, this job problem can follow.
What is unemployment (job losses)?
Goods, services and this third economic resource move across borders in globalization
What is capital?
Removing tariffs and quotas to ease trade is called trade this.
What is liberalization?
Jamaica exports this ore, which is refined into alumina for aluminium.
What is Bauxite?
The 1973 treaty creating CARICOM is named after this Trinidad location.
What is Chaguaramas?
Skilled workers leaving for richer countries is called this.
What is brain drain?
Colonial-era trade in this plantation crop was an early form of Caribbean globalization.
What is sugar(cane) ?
Money sent home by Jamaicans working abroad is known by this term.
What are remittances?
Call centres and outsourcing in Jamaica are known by these three letters.
What is BPO (Business process outsourcing)?
The CSME aims for free movement of goods, services, capital and this.
What is labour (skilled people)?
Relying on one or two earners such as tourism shows a lack of this.
What is diversification?
Founded in 1995, this organization sets and polices the rules of global trade.
What is the World Trade Organization (WTO)?
FDI stands for this kind of investment by outside companies.
What is foreign direct investment?
In the 1980s Jamaica opened up its economy under programmes agreed with this lender.
What is the IMF(International Monetary Fund)?
This 1983 US programme gave many Caribbean exports duty-free access to American markets.
What is the Caribbean Basin Initiative?
Hurricanes and rising seas make this global issue a major threat to Caribbean economies.
What is Climate Change?