Introduction to Globalisation

Question 1

Gross World Product

Answer 1

the total production output of goods and services by all economies in the world for a given period (add up the GDP of all economies)

Question 2

Global Economy

Answer 2

exists when national economies become more closely linked with each other

Question 3

What measures show the increasing levels of international economic integration?

Answer 3

the level of trade, global financial flows and investment between nations
the growth in technology, transport and communications
the movement of people

Question 4

What factors have allowed for increasing globalisation?

Answer 4

improvements of transport, telecommunications, technology and liberalisation of trade

Question 5

What is the ‘story’ of globalisation

Answer 5

the economies of the world have become increasingly integrated as the rate of globalisation has increased. This has been facilitated by the dismantling of trade barriers and improvements in technology, transport and telecommunications