4.1.1

Question 1

How is growth rate of a country measured

Answer 1

GDP

Question 2

Definition of an emerging economy

Answer 2

An economy that has an increased growth rate but relatively low income per capita

Question 3

How does UK compare to emerging economies

Answer 3

UK growth tends to be lower

Question 4

Definition of Globalisation

Answer 4

The economic integration of different countries through movement of goods and people

Question 5

Name BRICS

Answer 5

Brazil
Russia
India
China
South Africa

Question 6

Name MINT

Answer 6

Mexico
Indonesia
Nigeria
Turkey

Question 7

4 Benefits of Economic Growth for businesses

Answer 7

-Increased Profit
-Reduced Costs of Production
-Increased Trade Opportunities
-Increase in Investment

Question 8

3 Benefits of Economic Growth for people

Answer 8

-Increased average income
-Access to quality public services
-Reduced unemployment

Question 9

4 Indicators of Growth

Answer 9

-GDP
-Literacy
-Health
-HDI

Question 10

What is GDP

Answer 10

-The total output of a country divided by its population
-High GDP = High Living Standard

Question 11

What is Health

Answer 11

-Factors include life expectancy, infant mortality and access to healthcare
-Impacts the quality of the workforce

Question 12

What is Literacy

Answer 12

-Refers to the percentage of adults that can read and write
-Impacts the quality of the workforce and the customers they sell too

Question 13

What is HDI

Answer 13

-Human Development Index which combines income education and life expectancy to measure quality development of people
-Doesn’t factor inequalities or lack of unreliable data