globalisation

Question 1

what’s globalisation

Answer 1

process by which national economies have become integrated and inter dependant

Question 2

causes of globalisation

Answer 2

Trade liberalisation
Trade blocs
Technology advancements
increased human capital
mobility of labour

Question 3

positive effects

Answer 3

lower prices for consumers due to high competitiveness
CA surplus potential
greater employment
EOS
LRAS/AD Rights
benefits of trade

Question 4

negative effects

Answer 4

inequality
worse TOT
CA deficit
leads to protectionist policies