1
Q
What is globalisation defined
A
the increasing interdependence of world economies for trade
countries are now closer and act more like a single market
2
Q
What 5 thing have increased globalisation
A
MNC’s - expanding
New technology in communications
Faster and cheaper transport links - containerisation
Growth of free trade
Globabl institutions
3
Q
What are the two global institutions
A
IMF - international monetary fund
WTO - world trade organisation
4
Q
What is a developed country
A
one with high GDP and mature infrastructure e.g. UK
5
Q
What is a developing country
A
one with lower GDP, incomes and weaker infrastructure e.g. Brazil
Economics - Unit 2 MACRO
flashcards
Decks in class (27)
# Cards
-
Market changes - Revision8
-
Aggregate Demand6
-
Government + Interest7
-
base index5
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Macro Economic Objectives - Economic Growth - GDP9
-
Economic Cycle6
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Macro economic objectives - Employment10
-
Impact of unemployment on Economic Agents + Factors affecting4
-
Macro economic objectives - Inflation11
-
Effects of Inflation7
-
Inflation - Winners vs Losers + Control6
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Macro economic objectives - Inequality14
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Macro economic objectives - Balance of Payments15
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Fiscal Policy - Contractionary vs Expansionary13
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Fiscal Policy - Achieving government objectives + Budget surplus vs deficit8
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Fiscal Policy - Taxation12
-
Monetary Policy12
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Monetary Policy - Economic Objectives4
-
2.5 Role of Money8
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2.5 Financial Sector13
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Exchange Rates10
-
Factors affecting exchange rate6
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Effects of exchange rate on consumers and producers11
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Free Trade Agreements5
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Globalisation5
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Globalisation - Pros and Cons to Developed Economies6
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Globalisation - pros and cons developing economies6
