UNDERSTANDING GLOBALISATION

Globalization is a process of making the world more connected, with goods and services being traded globally and people moving around freely

A greater range and quality of goods and services

Chances to export to new and bigger markets

More exports may lead to an increase in employment

More exports resulting in increased business investment

Standards of living may increase, as can wages

Cheaper, imported goods can be bought by the population at the expense of locally produced goods.

This may result in some companies going out of business.

Technology consists of devices and systems which have been created for practical purposes.

The technology that allows us to communicate with people all over the world is vast and complex.

It would include satellites, smartphones, computers, the internet etc.

Technology is extremely important to businesses and individuals.