What are the causes and effects of globalisation?
Isolate/Define key terms
- globalisation
- causes
- effects - split into benefits and costs
1. Causes of Globalisation
- exploitation of resources
- improved technology
- freedom of trade
2. Costs of Globalisation
- inequality
- loss of cultural diversity
- macroeconomic instability/volatility
3. Benefits of Globalisation
- reduced poverty
- increased division of labour
- increased economies of scale
4. Conc.
- key cause
- overall, and in light of the aforementioned evidence, is globalisation a good or a bad thing?
TG
Related Economics A Level answers
All answers ▸Describe the impact of a close competitor lowering the price for their good has on the price and output of a firm, use a demand-supply diagram to help explain your answer.
How can the concept of opportunity cost be explained on different aspects of the economy?
What's the difference between PED, PES, YED, and XED?
Explain the factors influencing short run and long run aggregate supply