4.1 Globalisation

Which of the following are genuine features of emerging economies?

• gradual growth

• low risk

• rapid growth

• high risk

Explain why emerging economies are attractive to investors.

Examples of emerging economies can be found in the acronym: 'B.R.I.C.S'.

This stands for:

_____, _____, _____, ____ and ____ ______.

China is a prime example of a successful emerging economy.

They have excellent infrastructure and efficient ______ leading them to become the world's leading _________.

What is the most common and easiest route to the international market?

• exporting

  goods and services

• Foreign Direct Investment

  (FDI)

Explain how exporting is a low-risk route to the international market.

Countries try to limit the amount they import from abroad.

They do this via _____ (taxes).

There are numerous risks involved in international trade.

Changes in _____ rates can directly affect the cost and ____ for imports/exports.

Governments can also impose strict trade _____.

Which of the following can prove beneficial

when it comes to international trade?

• raising

  costs

• specialisation

• changing

  management

• remuneration

Describe what is meant by a "comparative advantage".