Edexcel A
level Economics
Theme 4 / Edexcel A Level
Economics (A) Question
Paper 2 June 2023
Globalisation - CORRECT ANSWER-The process in which national economies have become increasingly integrated and interdependant
Trade liberalisation
Trading blocs
Growth of MNCs
Technological advances
Greater mobility of labour and capital - CORRECT ANSWER-Causes of globalisation (5)
Advantages of globalisation (5) - CORRECT ANSWER-Lower prices
Benefits of trade
Greater employment
Large economies of scale
Free movement of labour and captial
Disadvantages of globalisation (6) - CORRECT ANSWER-Growing inequality
Higher structural unemployment
Environmental costs
Trade imbalances
Risk of external shocks
Less cultural diversity
Absolute advantage - CORRECT ANSWER-When a country can produce a product using fewer factors of production than another nation
Comparative advantage - CORRECT ANSWER-A country should specialise in the goods and services it can produce at the lowest opportunity cost, and then trade with another country
Specialisation - CORRECT ANSWER-When a worker, firm, region or country produces a
narrow range of goods and services
Advantages of specialisation (5) - CORRECT ANSWER-Larger range of goods and services
Greater output
Greater quality
Benefits of trade
Reduces problem of scarcity
Disadvantages of specialisation (5) - CORRECT ANSWER-Finite resources
Over-reliance on weather
Changing tastes/fashions
Interdependence
De-industrialisation
Terms of trade equation - CORRECT ANSWER-(Weighted average of export prices) x (Weighted average of import prices) x100
Terms of trade - CORRECT ANSWER-Indicates the quantity of exports that must be sold to purchase a given level of imports
EXCELLENT HOMEWORK HELP AND TUTORING ,ALL KIND OF QUIZ AND EXAMS WITH GUARANTEE OF A+
Am an expert on major courses especially; psychology, Nursing, Human resource Management and Mathemtics Assisting students with quality work is my first priority. I ensure scholarly standards in my documents and that's why i'm one of the BEST GOLD RATED TUTORS in Knoowy. I assure a GOOD GRADE if you will use my work. / I am about quality. The documents herein guarantees an A+ for exams, essays, class discussions, term papers, quizlets and Q & A assignments. Do not hesistate to make your purchase. Investing in education is a life investment.
acls advanced cardiovascular life support exam version b advanced pharmacology
Handig te gebruiken bij het leren en er is veel aanbod op de website.
Als student voor de examencommissie besparen samenvattingen mij een heleboel opzoekwerk!
Een goede keuze voor samenvattingen. Je bespaart tijd en energie.
Werkt prima, gelijk downloaden en geen ingewikkelde procedures. Heel fijn!
Knoowy is handig voor tijdens de examens en biedt hulp bij tijdsnood. Heel gemakkelijk!
Prima samenvattingen van veel verschillende vakken die je goed kunt gebruiken.
Kijk voor samenvattingen ook eens op Knoowy. Goede samenvattingen en betaalbaar.
De documenten zijn duidelijk en goed samengevat. Het is fijner leren dan vanuit het boek.