4.1.1 Growing Economies

Question 1

Globalisation

Answer 1

trade between countries

and the idea of businesses operating internationally

Question 2

Economy

Answer 2

the state of a country/region in terms of production and consumption of goods and services and the supply of money

Question 3

The supply of money

Total volume, public

Answer 3

refers to the total volume of currency held by the public at a particular point in time.

Question 4

Economic growth

Answer 4

Refers to an increase in GDP

Question 5

How is the wealth and economy of a nation measured

Answer 5

GDP (Gross Domestic Product)

Question 6

GDP (Gross Domestic Product)

Answer 6

total value of all the goods/ services produced in a country within a year (output)

Question 7

When GDP is increasing, what is it a sign of

Answer 7

It is a sign of greater economic activity, that benefits workers and businesses

Question 8

Emerging economies

Answer 8

economies and markets of developing countries where there is rapid growth, but also a lot of risk

Question 9

4 features of emerging markets

1 negative feature of emerging markets

Answer 9

• Very large population (so lots of potential customers in that market)
• High economic growth - GDP will be growing quite rapidly
• Potential for growth e.g most likely still to grow
• Rising incomes in that economy/country
• Volatile e.g may not politically stable - Also due to high rates of economic growth, may experience high levels of inflation & fluctuating exchange rates

Question 10

Acronyms for emerging economies - 2

Answer 10

BRICS & MINT

Question 11

BRICS countries

Answer 11

Brazil
Russia
India
China
South Africa

Question 12

MINT countries

Answer 12

Mexico
Indonesia
Nigeria
Turkey