15- The EU, emerging markets, and global context Flashcards
1
Q
What is containerisation?
A
The improvement of transport infrastructure has facilitated globalisation
2
Q
What is globalisation?
A
The process of growth in the markets through integration
3
Q
What is GDP?
A
total value of goods produced during one year
4
Q
What is an emerging market?
A
less developed market with potential for rapid growth
5
Q
What is a single market?
A
Operate under the same rules
trade freely under a set of rules on the movement of goods, people, and finance
6
Q
What are trade barriers?
A
Tariff- tax goods entering from abroad
Quota- restrict no. of imports allowed
