Globalisation

Question 1

what are emerging economies

Answer 1

rapidly growing economies, have huge growth potentia

Question 2

what is globalisation

Answer 2

the growing integration of the worlds economies

Question 3

what are the features of globalisation (5)

Answer 3

• goods and services are traded freely accross borders
• people are free to live and work in any country they choose
• high level of interdependance between economies, so activity in one economy will effect the activity in another
• capital can flow freely between countries
• free exchange of technology and intellectual propery across borders, so patents signed in the US will be recognised everywjere

Question 4

what is intellectual property

Answer 4

peoples ideas and knowledge which have commercial value and are protectable under different forms of copyright

Question 5

what are the reasons for globalisation (6)

Answer 5

GIMMID

improved transport
deregulation
development in technology
market saturation
increased tourism
government commitment

Question 6

what are the key features of globalisation (5)

Answer 6

goods and services are traded freely across borders
people are free to live and work in any country they choose
high level of interdependence between economies
capital can flow freely between countries
free exchange of tech and intellectual property

Question 7

how has development in tech increased globalisation

Answer 7

more computers means ppl can work from home, fast and efficient exchange of data and intellectual property. less office based jobs mean comapnies can run more easily internationally and internet also allows consumrs to gather data more efficiently

Question 8

what benefits of globalisations do businesses enjoy(4), provide 3 points for labour

Answer 8

acess to larger markets - global markets are larger than domestic markets, larger audience and opportunities to diversifiy
lower costs - as hey grow, costs are reduced because of economies of scale
acess labour - free movement of labour, fast business growth means domestic labour forces cant keep up, overseas labour will be required, more people = higher range of people = better people can be picked. rising labour supply can keep wages down as there will be a surplus of unskilled labour needed, lowering costs. some countries have skill gaps so expertsfrom all over the world can be brought
reduced taxation - businesses can locate themselves in any country they like, paying less tax than they would elsewhere

Question 9

threats to businesses because of globalisation (3)

Answer 9

increases competition - predatory pricing leading to business wipe out, economy scale
international takeover - increased flow of capital can equal to predator businesses and hostile takeover
increased risk of internal shock, due to economy interdependance, businesses will be affect due to actions in other countries