4.1 Globalisation

Question 1

2 implications of economic growth for individuals and businesses

Answer 1

• trade opportunities for businesses
• employment patterns

Question 2

4 indicators of growth

Answer 2

• Gross Domestic Product (GDP) per capita
• literacy rate
• health
• Human Development Index (HDI)

Question 3

8 factors contributing to increased globalisation

Answer 3

a) reduction in trade barriers/ trade liberalisation
b) political change
c) reduced cost of transport and communication
d) increased significance of global (transnational) companies
e) increased investment flows (FDI)
f) migration (within and between countries)
g) growth of the global labour force
h) structural change

Question 4

3 forms of protectionism

Answer 4

• tariffs
• import quotas
• other trade barriers: government legislation and subsidies

Question 5

3 trading blocs

Answer 5

EU and the single market
ASEAN
NAFTA

Question 6

define globalisation

Answer 6

when economies and cultures are draw together and become more interconnected through networks of trade and the rapid spread of technology