Theme 4- Growing economies

Question 1

What is Globalisation?

Answer 1

The increase in how interconnected the world is

Question 2

What does Globalisation enable?

Answer 2

• Businesses operating globally
• Strategic decisions about raw materials
• Global trade ( one country can effect another
  which can lead to the growth of LEDCS)

Question 3

What are the indicators of economic growth?

Answer 3

• GDP
• Literacy rates
• Health
• HDI

Question 4

What is GDP?

Answer 4

The total market value of goods and services produced in a nation over a period of time

Question 5

What is GDP per capita?

Answer 5

• The GDP divided by the number of people in a
  country
• Leads to fairer comparisons

Question 6

Limitations of looking at GDP?

Answer 6

• Does not show distribution of wealth, disposable
  income, cost of living
• GDP and GDP per capita may show different
  things

Question 7

What are literacy rates?

Answer 7

• People above the age of 15 who can read and
  write
• Suggests education which is good for skilled jobs

Question 8

What factors are looked at when assessing health as an indicator of growth?

Answer 8

• life expectancy
• Death rates
• Morbidity
• considers risk factors also like sanitation

Question 9

What does good health show?

Answer 9

A growing economy as money is put towards healthcare and more people are fit to work

Question 10

What is HDI?

Answer 10

• Human development index
• How developed the people are
• Based on life expectancy, yrs schooling and
  income

Question 11

What is an emerging economy?

Answer 11

• Fast growing yet not fully developed

Question 12

Why is BRICs emerging?

Answer 12

• 40% of worlds population
• Cheap labour which is good for manufacturing
• China trades which boosts their economy

Question 13

Why is MINTs emerging?

Answer 13

• Growing population
• Young workforce
• Close to large markets for exports

Question 14

Benefits of economic growth for individuals and businesses

Answer 14

• Increased output
• Businesses can expand to growing markets
• Operating overseas can reduce labour and
  transport costs
• More jobs are created which increases income
  and improves living standards
• Higher demands leads to increased production

Question 15

Limitations of economic growth for individuals and businesses

Answer 15

• Some local jobs may be cut when businesses
  relocate operations overseas