Examples Flashcards

Question

Globalisation

Answer 1

USA suffered when China entered WTO in 2001 as they could produce goods at much cheaper China dump steel in Europe as they don't need it any more because of the slowdown Starbucks HQ in Ireland due to low tax rates

Answer 2

Venezuela have an independent monetary policy by 700% inflation

Answer 3

UK - financial servies Japan - cars USA - soya beans what they export most inelastic Saudi Arabia - oil

Answer 4

Toyota assemble most of its car parts in US despite being a Japanese brand

Answer 5

Zambia - 0.57 UK - 0.36 2014 1 - perfect equality

Answer 6

Japan avoid deflation by negative interest rate Some of eurozone went into deflation Greece malevolent deflation Argued that EU's decision to use quantitive easing will not increase price level due to deep recession

Answer 7

Zero hour contracts which take up 2.5% of the workforce is a supply side measure Productivity gap is persistent where our productivity fell in the last quarter by 0.6% and reinforced that our GDP per worker is 86.0 and Germany's is 111.0 Labour market - increasing tax threshold to £11500

Answer 8

2m students are unemployed yet it's said only 1.5m are unemployed

Answer 9

with the rest of the world increased by £1.9bn to £125bn in 2015

Answer 10

Ofgem - wholesales prices fell by 24% and E.On cut prices by 5.1% Ofgem fined N.Power £26m in December due to failure to deal bill customers correctly by May Scottish power were fined £18m due to failure to deal with complaints and inadequate call centres - not enough being done Scottish power have paid £30m in compensation and has improved service Ofwat - bills should be cut by 5% by 2020, PAC said they overstate their costs and charge high prices, natural monopoly Ofgem - prices should fall by 10% cutting £120 from both electricity and gas bills and not just £23 of both E.On and Eron

Answer 11

welfare to work are a series of policies designed to increase incentives to gain employment, working family tax credit and min wage increase the supply of labour rather than living off benefits

Answer 12

Education and training - government investment in burnsides has fallen by 30% in 2014-2015 compared to 2012-2013 Compulsory maths until 18 Increased school leaving age

Answer 13

Trade unions - the bill through parliament in Feb reviewed some controversial aspects to ensure UK do not contravene international labour laws Plans to introduce - threshold of 50% turnout to industrial action ballot For important public services a requirement that at least 40% of all eligible voters to vote in favour of action

Answer 14

stockbroking shares Net book agreement Opticians

Answer 15

1945 - labour nationalised electricity and railways 1947 - coal was nationalised when 800 coal mine came under the public sector, establishment of NBC to manage industry on commercial lines railways were nationalised to help the network infrastructure and restore rolling stock after the destructive effects created by WW2

Answer 16

UK took advantage of EU migration to solve recruitment problems due to lack of skills Bupa Care Home recruited carers from Poland

Answer 17

Strict FDI agreements mean multinationals are barred but does mean they are able to negotiate directly with the country and increase growth

Answer 18

joined in 2004, Made it easier to collect debt, reform of law and reduced red tape Their growth had increased and black economy shrunk had to ensure that their activities were inline with regulation

Answer 19

Australia saw deflation for the first time in seven years in the first quarter of 2016 due to falling petrol good and clothing prices Lead to a fall in the Australian dollar by 1.5%

Answer 20

Due to subdued inflation and global trend stemming from weak demand low energy prices and flat wages

Answer 21

16.8% of the main industrialised and emerging countries in global GDP adjusted to PPP

Answer 22

China and India joining WTO in 1991 and Russia joining in 2012

Answer 23

For decades trade around the world which is now worth more than $18 trillion each year grew at twice the rate of the global economy

Answer 24

Privatisation of Royal Mail Large fall in cooperation tax - capital gains tax Modern apprenticeships including the Youth Contract

Answer 25

cuts in government grants for university less productive in the long run

Answer 26

Japan who's national debt is 200% of GDP

Answer 27

take up 12%

Answer 28

the UK's would appreciate in effect

Answer 29

Temperatures have risen by 0.85 on average over the 100 years only 6 degrees difference between ice age Heat wave has an impact of the price of soya in Brazil and prices have gone up this is used for chicken feed so the prices of chickens have also risen, due to globalisation and the world being dependant on international trade if crops are suffering in one part of the world it will impact everyone

Answer 30

Emissions must peak between now and 2020 2 degree temp rise 5 year meetings $100bn dollar investment per year

Answer 31

6.8% in 2015, predicted 6.3% in 2016, target until 2020 - 6.5%

Answer 32

wholesale prices of gas fell by 24% yet many firms have only reduced prices by 5.1% (E.ON) (£32) and 5.2% (NPower) regulator says they should see a fall of 10% which is the same as £120 off their electricity and gas bill

Answer 33

EU to cut emissions by 40% US to cut emissions by 26-28% China agree emissions will peak by 2030

Answer 34

pact required worldwide cuts in emissions of about 5% compared to 1990 levels Developing countries such as China and India were able to emit as much as they like

Answer 35

all of the world's developed countries and biggest developing countries for the first time to limit greenhouse gas emissions we're not enough to meet scientific advice and was not fully adopted by the UN until 2009 because of last minute chaos at the conference but got ratified the following year

Answer 36

unemployment fell by 12.4% Spain suffered a double dip recession that pushed unemployment to under 27% at the end of 2013 Retail sales grew by 3.6%

Answer 37

a lot of China's banks and industries are state owned suggesting the slowdown will be gradual and controlled

Answer 38

had to recall 11m cars, fined £12bn in total Had to rebuke customer confidence, difficult in their homeland December 2014 - Paris ban diss on streets until 2020 UK set to discuss fiddles as its estimated that air pollution causes 9,500 deaths in London each year

Answer 39

Cut public spending by 10% due to fall in oil prices

Answer 40

budget deficit is 15% of GDP

Answer 41

870j expected returns were not recovered by the dad line with those individuals facing financial penalties

Answer 42

high IR despite deep recession

Answer 43

The wages of oil has fallen by 12% which are nearly 50% above average

Answer 44

acted badly to the announcement of Npower cutting 2,400 jobs by 2018, suffered losses of £106m and the big six lost around 351000 customers

Answer 45

wants to boost productivity improve schools and infrastructure to become more competitive

Answer 46

the U.K. attracts foreign currency by selling off domestic industry since 2004 over £400vn worth of zUk Z companies have been sold overseas