Globalisation

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  • Created by: katie_lm
  • Created on: 03-05-17 14:30
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  • Globalisation
    • Causes
      • Trade liberalisation
      • Industrialisation of countries
      • Growth of MNCs
    • Impacts
      • Environmental damage
      • Economic growth
      • Brain drain
      • Structural unemployment
      • Increased interdependence
    • Definitions
      • GLOBALISATION: the increasing economic integration and interdependence.
      • COMPARATIVE ADVANTAGE: being able to produce a good or service a lower opportunity cost.
      • ABSOLUTE ADVANTAGE: being able produce a greater quantity of a good or service than competitors, using the same amount of resources.

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