What does BRICS refer to and which countries are in it
Emerging economies
Brazil, Russia, India, China, South Africa etc.
What does MINT refer to and which countries are in it
Rapid economic growth
Mexico, Indonesia, Nigeria, Turkey
What is the difference between offshoring and outsourcing?
What are some of the effects of economic growth on individuals?
- More job opportunities and increased income
- More demand for specialist labour so more human capital and productivity
- Changes to structural employment and more rural-to-urban migration
- ## Shifting patterns of employment due to more competitive markets and firms
What are some effects of economic growth on firms?
Who are the winners and losers in developing economies
Who are the winners and losers in emerging economies
Define nominal value
Define current prices
Define real values
Define constant prices
What is the formula for real values?
Nominal value x100/ Price index
What is the formula for index values?
Current value/ Base year value x100
What is trade liberalisation?
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1.1 Scarcity, choice and potential conflicts23
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1.2 Enterprise, business and the economy33
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1.3 Introducing the market54
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1.4 The role of credit in the economy10
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1.5 Market failure and government intervention26
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1.6 Revenue, costs, profits, cash9
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2.1 Business Growth and competitive advantage21
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2.2 Firms, consumers and elasticities of demand0
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2.3 Productive efficiency13
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2.4 Life in a global economy1
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2.5. The economic cycle0
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2.6 Introduction to macroeconomic policy8
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3.1 Globalisation14
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3.2 Economic factors in business expansion8
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3.3 Impact of globalisation on global companies0
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3.4 Impact of globalisation on local and national economies0
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3.5 Global Labour markets0
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3.6 Inequality and redistribution0
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4.1 Competition and market power14
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4.2 Market power and market failure0
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4.3 Market failure across the economy0
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4.4 Macroeconomic policies and impacts on firms and individuals1
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4.5 Risk and the Financial Sector0
