4.1.1

• What is the definition of globalisation?

  The process of increasing interconnectedness due to massive trade and cultural exchange.
• What are the types of globalisation?

  1. Economic: Integration of international financial markets, trade agreements, and multinational businesses.
  2. Social: Communication and cultural exchange through media, books, and food across countries.
  3. Political: Cooperation among countries through organizations like the WTO and UN.
• How does economic globalisation manifest?

  Through the integration of international financial markets, trade agreements, and multinational businesses.
• What role does social globalisation play?

  It facilitates communication and cultural exchange through media, books, and food across countries.
• What is the significance of political globalisation?

  It involves cooperation among countries through organizations like the WTO and UN.
• What is one key impact of globalisation?

  Expansion of global trade in goods and services.
• What is another key impact of globalisation?

  Growth of global brands.
• What is a third key impact of globalisation?

  Increased labour migration.
• How does globalisation affect political and economic power distribution?

  It leads to changes in political and economic power distribution.
• What are the indicators of economic growth?

  1. Gross Domestic Product (GDP): Measures total value of goods and services produced.
  2. Literacy Rates: An indicator of education and skills within a country.
  3. Health Indicators: Access to healthcare and overall health standards.
  4. Human Development Index (HDI): Combines education, income, and life expectancy to assess quality of life.
• What does GDP measure?

  The total value of goods and services produced.
• Why are literacy rates important indicators of economic growth?

  They indicate the education and skills within a country.
• What do health indicators assess?

  Access to healthcare and overall health standards.
• What does the Human Development Index (HDI) combine?

  Education, income, and life expectancy to assess quality of life.
• What are the characteristics of emerging economies?

  • Rapid economic growth and expansion of trade and investment.
  • Examples include BRICS (Brazil, Russia, India, China, South Africa) and MINT (Mexico, Indonesia, Nigeria, Turkey).
• What opportunities do emerging economies present?

  Middle-class growth drives demand for products from developed economies.
• What risks are associated with emerging economies?

  Intellectual property theft, business restrictions, and competition from domestic businesses.
• What UK business opportunities arise from emerging economies?

  Expansion into fast-growing economies like China and India.
• How does middle-class growth in emerging economies affect demand?

  It increases demand for consumer goods as middle-class populations rise.
• Why should businesses avoid exporting to a country with a struggling economy?

  Because it may lead to reduced demand for their products.
• Which businesses might benefit from high unemployment in target markets?

  Businesses that offer low-cost goods and services may benefit.
• What are the key trends in the growing economic power of emerging economies?

  • Emerging markets like China and India contribute a significant percentage of global GDP growth.
  • These countries are major global exporters and investors.
  • China leads in sectors like electronics, while India excels in IT services.