3.2.4

Question 1

globalisation

Answer 1

the trend for markets to become worldwide and independent

Question 2

what are the impacts of globalisation?

Answer 2

-an increase in multinational companies who supply products across the world
-increased international trade
-people have moved across international borders

Question 3

why has the pace of globalisation increased in recent years?

Answer 3

-incomes have risen
-the cost of transporting products has fallen sharply
-electronic communications have allowed even small businesses to sell products to global markets

Question 4

what are some examples of businesses that compete globally?

Answer 4

-apple
-lenovo
-tesco
-starbucks

Question 5

what are the benefits of globalisation to UK businesses?

Answer 5

-rapid growth
-inward investment
-cheaper resources

Question 6

what are the drawbacks of globalisation for UK businesses?

Answer 6

-new and fierce competition
-threat of takeover

Question 7

how can UK businesses compete in an international market?

Answer 7

-improves design of their products
-quality
-price