Globalisation Flashcards
1
Q
What is globalisation?
A
The process by which economies are becoming increasingly intergrated, interconnected and interdependent
2
Q
3-5 characteristics of globalisation?
A
- Reduced protectionism
- Employment opportunities because of MNC’s
- More competition encourages efficiency and innovation from firms
- Freer movement of labour
- Innovative ideas, knowledge and technology can be shared more
3
Q
What are economic indicators?
A
Indicators are typically economic data/statistics that indicate current or future prospects for economic growth
