2024 aqa as economic 7135/2
paper 2 the national economy in a
global context question paper|
newest June 2024| 100 questions
and correct detailed
answers(verified answers)||
graded a+
What are the main characteristics of globalisation?-ANSWERFree
movement of capital and labour across International
boundaries, free trade between countries and the availability of
technology and intellectual capital to be used on an international
scale
In the last 50 years, why has the scale and pace of globalisation
increased?-ANSWER-Trade liberalisation - removal of tariffs
etc. may negotiate these with WTO.
WTO raised standards on global products - to increase consumer
confidence in imported goods
Reduction in cost and time needed - for transportation of goods.
Cheaper to import and export. E.g. could be due to larger cargo
ships
Improvements in communication - e.g. internet makes trade
easier and cheaper
MNC's wishing to increase profits - might built a factory in and
LEDC for cheap labour. Increase in FDI from MNC's
Firms expanding overseas - wish to exploit economies of scale
More MNC's with influence - more international trade and
investment as influence grows
Governments wanting benefits of International trade - e.g. govt
might want to provide incentives for foreign firms to invest in
their country
The opening of markets to trade and investment - e.g. after
collapse of USSR economy opens up and globalisation increases
through more trade
Growth in international trading blocs
Increased investment by sovereign states - Norway invests some
oil revenues in foreign companies
International specialisation - best at making in one country
encouraging international trade
What are some cultural and political factors involved in
globalisation?-ANSWER-International bodies e.g. UN lead to
more joint decision between countries and firms - cultural
globalisation e.g. McDonalds
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