Globalisation | A-Level Economics

Question 1

What is a key characteristic of economic globalisation?

Accepted Answer

Increased flow of capital across borders, Growing interconnectedness of national economies

Question 2

Which economy saw the most rapid increase in global value chain participation between 2010 and 2020?

Accepted Answer

Vietnam

Question 3

What happened to developing countries' share of global trade between 1981 and 2019?

Accepted Answer

Increased sharply

Question 4

Samsung locates a manufacturing plant in Thailand. Which of the following will most likely benefit the host country?

Accepted Answer

Local and regional multiplier effects

Question 5

How much have digitally delivered services exports grown in the world economy between 2005 and 2022?

Accepted Answer

Around 400%

Question 6

How can globalisation impact the income distribution among workers in a country?

Accepted Answer

Widening income gaps and increasing inequality

Question 7

Which policy has been a driving force behind globalisation by promoting free trade and reducing trade barriers?

Accepted Answer

Neoliberalism

Question 8

What were key factors contributing to the stagnation of trade as a share of global GDP after the financial crisis?

Accepted Answer

Less offshoring of production stages by TNCs, A rise in tariff and non-tariff trade barriers

Question 9

How has the evolution of multinational corporations contributed to globalisation?

Accepted Answer

By facilitating movement of goods, services, and capital across borders

Question 10

Globalisation can best be described as

Accepted Answer

making the world economy more inter-dependent.

Question 11

According to the WTO, what has been the key driver of per capita income convergence across countries in recent decades?

Accepted Answer

Trade-driven growth

Question 12

What is a possible consequence of global companies exploiting cheap labour in developing countries?

Accepted Answer

Social and economic inequalities in developing nations

Questions 12