Globalisation

Question 1

Emerging economies

Answer 1

Brazil, china, India, Mexico, Russia

Question 2

Implications of economic growth for businesses

Answer 2

New export opportunities
Offshoring production
Increased domestic competition

Question 3

Indicator of growth for individuals

Answer 3

GDP per capita
Literacy rates
Health
HDI

Question 4

Specialisation boost effecieny

Answer 4

Produce one product - need less machinery
Training costs decrease
Taylor believed practice makes perfect

Question 5

Efficiency gains creates competitive advantage

Answer 5

Lower selling price due to lower costs

High profit margins as costs decrease

Question 6

Benefits of FDI

Answer 6

Avoid export problems
Avoid transport costs
Avoid trade barriers
Access to natural resources - mining 
Lower operating costs - location

Question 7

Factors contributing to globalisation

Answer 7

Trade liberalisation - remove protectionism
Political change - leaving EU slows down globalisation
Decreased cost of transport and communication - oil, tech advancement and bigger transport
Increased significance of transnational companies - growth in new markets
Increased investment - increases trans-border communication
Migration - proactive and determined or well educated
Global labour force growth - offshoring to cheaper labour
Structural change - versatile economies