4.1.3 Factors contributing to increased globalisation

Question 1

Benefits of Globalisation

Answer 1

1. increase in choice for consumers
2. Greater potential growth for developing economies
3. Firms can expand and gain extra sales and profit
4. Greater employment opportunities
5. Cheaper goods
6. Transfer of technology

Question 2

Benefits of Globalisation

Answer 2

1. increase in choice for consumers
2. Greater potential growth for developing economies
3. Firms can expand and gain extra sales and profit
4. Greater employment opportunities
5. Cheaper goods
6. Transfer of technology

Question 3

Drawbacks of globalisation

Answer 3

1. Increase in gap between rich and poor
2. Dominance of global trade by the rich countries
3. A loss of cultural identity
4. Exploitation of workers
5. Tax avoidance
6. Large multinationals put small local business out of power

Question 4

Factors contributing to globalisation

Answer 4

1. Reduction of international trade barriers and trade liberalisation
2. Political Change- China becoming more open to trade
3. Reduced transport costs and communication- Internet,google meet, more air flights around the world marking trade easier
4. Increased significance of global companies-World trade is increasingly becoming dominated by large multinational brands eg: Amazon, nike, puma
5. Increased investment flows FDI-As the world is being more dominated by large international brands, EG: Toyota in the UK