Help with Economics... (1 Viewer)

[ildzke]

I'm really stressing out here, can someone please help out with the following questions

1. What does the term Globalisation mean and how does it operate in the world economy?

2. Why has globalisation progressed and expanded in the world economy?

3. Explain some of the effects of globalisation on a country such as Australia, and on low income countries.

Thanks a lot, i'm dying...

Ildz -->

 

[azza_3761]

1) Globalisation refers to the growing economic integration between nations and is concerned with international flows in not only trade but also in investment, technology, finance and labour.

2)Globalisation has expanded in the global economy as higher levels of economic growth ca be experienced through global trade than could be done by individula countries independently.

3) Australia + Low income countries - expansion of economy, greater sustainable economic growth, closer economic relations with other countries, loss of business' and firms to overseas TNC