Flashcards
Economics Chapter 1
Cards in this deck (5)
- 1Define the global economyThe global economy consists of individual economies being linked together, and changes in one economy can have ripple effects on others.
- 2Define GlobalisationGlobalisation refers to the integration between different economies, and the increased impact of international influences on all aspects of life.
- 3What are the indicators of globalisation?1. International trade of goods and services
2. Investment flows and TNC's
3. Financial flows
4. Technology, transport and communications
5. Movement and distribution of labour - 4Define Gross World ProductSum of total output of goods and services by all economies in the world over a period of time.
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- Flashcards on Economics Chapter 1, created by Hoomayara A on 10/11/2015.
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- Hoomayara A
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