4.1 globalisation

Question 1

growth rate in the uk compared to emerging economies.

Answer 1

the growth rate in the UK is very slow, at 2.25% per year. emerging economies such as india or bangladesh are experiencing rates of growth at over 5%. this is seen in the growth of manufacturing industry’s within emerging economies.

Question 2

Growing economic power of countries within Asia, Africa
and other parts of the world

Answer 2

countrys within africa and asia have see

Question 3

globalisation

Answer 3

Globalisation is the economic integration of different countries through increasing freedoms in the cross-border movement of people, goods/services, technology & finance

Question 4

implications of economic growth

Answer 4

-access to new markets and trading opportunities
-increased competition

Question 5

Factors contributing
to increased
globalisation

Answer 5

a) Reduction of international trade barriers/trade
liberalisation
b) Political change
c) Reduced cost of transport and communication
d) Increased significance of global (transnational)
companies
e) Increased investment flows (FDI)
f) Migration (within and between economies)
g) Growth of the global labour force
h) Structural change

Question 6

indicators of growth

Answer 6

Gross Domestic Product (GDP) per capita
o literacy
o health
o Human Development Index (HDI)

Question 7

trade liberalisation

Answer 7

the removal of barriers to promote trade

Question 8

benefits of trade liberalisation

Answer 8

-businesses will be able to trade more freely and will benefit from economies of scale as they operate at larger scale
-costs will be cheaper as resources can be imported more cheaply

Question 9

drawbacks of liberalisation

Answer 9

-domestic firms wont be able to compete against international firms
-some countrys may be exploited