Key Terms
LIDC
What is Globalisation?
When the world is interconnected
TNC stands for
Transnational Company/Corporation
What is a sweatshop?
A factory where the people work for long hours for little pay.
What is a common fairtrade product?
Bananas, Cacao
Otherwise known as an AC, the rich live here
HIDC
Colonisation
What is a TNC?
A company that operates in more than one country
Describe a typical sweatshop worker
Female, young, vulnerable, poor
What does fairtrade mean?
Fair trade means buying and selling products in a way that treats workers and farmers fairly.
When the world is interconnected!
Globalisation
A negative consequence of globalisation for LIDCs is...
Which TNC did we look at as a case study?
NIKE
Where did the sweatshop collapse?
Rana Plaza, Bangladesh
What type of industry (sector) do fair trade workers work in?
Primary Sector (Agriculture)
The exchange of goods and services between countries
World Trade
True!
How do TNCs try to make more money?
By exploiting their workers
What is a social impact of sweatshops?
People aren't able to spend time with their families, their health is at risk
How did fairtrade originate?
Moving the means of production to an LIDC from an HIDC to make more profit
Global Shift
Interconnectedness means...
Countries are reliant on each other
What is a positive of TNCs for workers in LIDCs?
Creates more jobs in poorer countries
What would happen if sweatshops closed?
What is a social impact of farmers who work with fairtrade
Social Premium - infrastructure for the community can be built using fairtrade money