globalisation

Question 1

what is globalisation and causes

Answer 1

process where national economies have become increasingly integrated and interdependent

-trade liberalisation, trading blocs, growth of MNC’s tech advancement, mobility of labour

Question 2

pros of globalisation

Answer 2

-lower prices(comp)
-greater employment
-benefits from economies of scale
-free movement of labour

Question 3

cons of globalisation

Answer 3

-inequality
-strcutral unemployment
-environemtal costs
-risk of external shocks
-less diversity