4.1.1 Growing Economies

Question 1

What are BRIC economies?

Answer 1

• They have economic, cultural and geopolitical influence. Superpowers shift over time, as some powers decline and others emerge.
• The BRICs are Brazil, Russia, India and China.

Question 2

What is MINT economies?

Answer 2

Mexico, Indonesia, Nigeria and Turkey - as emerging economic giants

Question 3

What is an economy ?

Answer 3

• An economy is the state of a country or region in terms of the production and consumption of goods and services and the supply of money

Question 4

What is economic growth?

Answer 4

• Growing economies start to see changes in employment patterns; working women, migration, the rise of the multi job, home working and the search for a better work-life balance.

• As labour and other resources move from agriculture into modern economic activities, overall productivity rises and incomes expand.

Question 5

What does all this growth mean for business?

Answer 5

-opportunities to increase revenue and profit for MNCs by moving into new markets
• Increased incomes combined with low labour costs and proximity to market make these growing economies very attractive

Question 6

What is GDP?

Answer 6

• GDP stands for Gross Domestic Product
• The GDP figure for a country shows the sum total of everything they produce as a nation

Question 7

What is Literacy ?

Answer 7

• Literacy levels are a key indicator of the economic growth of the world’s countries

Question 8

what is health?

Answer 8

• World Health Organisation (WHO) keep a record of life expectancy at birth in years

Question 9

What is HDI?

Answer 9

• This is a statistic which combines; life expectancy, education and income which are used to rank countries into four tiers of human development

Question 10

Implications of economic growth for individuals and businesses

Answer 10

• Trade opportunities
• employment patterns

Question 11

how are Trade opportunities created?

Answer 11

• economy is growing , consumption may also be growing
• disposable income rises people have more money to spend which leads to more revenue and profit for firms
• goods and services can be produced domestically creating opportunities for trade

Question 12

Employment patterns

Answer 12

If there is high unemployment it is an unhealthy economy because nobody is earning money to spend as a result it will be a weak economy. Same vise Vera

Question 13

what is a Indicator of growth

Answer 13

• Gross Domestic Product (GDP)

Question 14

Gross Domestic Product

Answer 14

This is a measure of economic activity including a of the goods and services produced in a year , divided by the number of people in the country.

Question 15

How does health indicate growth?

Answer 15

• life expectancy at birth
• infant and material mortality
• pollution exposure
• access to clean water

Question 16

Economic growth

Answer 16

An increase in a country’s productive capacity

Question 17

Emerging economies.

Answer 17

the economies of developing countries where there is rapid growth, but also significant risk

Question 18

Human Development Index

Answer 18

A collection of statistics that are combined into an index , ranking countries according to their human development

Question 19

Literacy rate

Answer 19

The percentage of adults ( over 15) that can read and write

Question 20

Purchasing Power Parity ( PPP)

Answer 20

A measure of real growth that uses the price of purchasing a standardised basket of goods and service in order to compare prices across economies