Flashcards
Economics Notes
Cards in this deck (8)
- 1What is the Global Economy?- The Global economy is the world economy.
- It is the economic activity going on in the World.
- It includes all production, trade, Financial Flows, investment, technology, labour and economic behaviour in the nations between nations. - 2What is the Gross World Product?The aggregate (total) value of all goods and services produced world wide annually is measured by the Gross World Product.
- 3Name some trends in the Gross World ProductThe estimated total output of the world economy in 2013 was valued at over $74
Trillion US despite a decline in Global output due to the Financial crisis, high levels of unemployment and sovereign debt problems. The Global economy is growing at 3.7% in 3014 and up to 3.9% by 2015 (IMF) - 4What is GlobalisationGlobalisation is the integrations between different countries and economies and the increased impact of international influences on all aspects of life and economic activity.
- 5Name the indicators of Globalisation- International Trade in goods and Services
- International Financial Flows
- International Investment flows and transnational Corporations
- Technology, Transport and communications
- The movement of workers between countries (Migration) - 6Identify some trends for financialSignificant growth since deregulation of global financial markets e.g. Australia in
the 1980’s opened the economy to international banks and floated the Australian dollar. - 7Identify trends for Transnational CorporationsTransnational corporations had a revenue of $31.1 Trillion U.S. in 2013. This
presents an increase of 2.5% of the last few years. - 8—
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- Flashcards on Economics Notes, created by alicia.mimoso on 17/07/2015.
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- alicia.mimoso · Jul 2015
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- Apr 29, 2016
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