Save
...
Theme 4
4.1 - International economics
4.1.1 - Globalisation
Save
Share
Learn
Content
Leaderboard
Learn
Created by
Tayyibah Hussain
Visit profile
Cards (5)
Factors contributing to globalisation:
Trade in
goods
Trade in
services
Trade in
Liberalisation
Containerisation
Technology
International
financial
flows
Impact on
globalisation
on producers
Producers can benefit from
economies
of
scale
Firms can operate in a more
competitive
environment
, which increases
efficiency
Impact of globalisation on consumer
Increase in
standards
of
living
due to an increases in
GDP
Wider
range of products; however some services may become
homogenised
Globalisation
refers to the growing
interdependence
of countries and the rapid rate of
change
it brings about.
Impact of globalisation on
Economic
growth
:
Increased
investment
(an injection) and will have and impact due to the
mutilplier
effect
Increased
trade
due to
exploitation
of comparative advantage
However,
political
instability