OCR Economics Globalisation Revision Notes
Master OCR Economics Globalisation using simple revision notes, key facts and practice questions — all generated by AI for your exam.
Globalisation refers to the increasing interconnectedness of economies, societies, and cultures across the world. It involves the flow of goods, services, capital, and information across international borders, leading to a more integrated global economy.
Key Concepts
- 1Increased trade and investment between countries.
- 2The rise of multinational corporations (MNCs).
- 3Technological advancements facilitating communication and transportation.
- 4Cultural exchange and the spread of ideas.
- 5Potential impacts on local economies and environments.
Simple Explanation
Globalisation means that countries are more connected than ever before, sharing products, money, and ideas. This happens because businesses can operate in many countries, and technology makes it easier to communicate and travel. While it can create new opportunities, it can also lead to challenges for local cultures and economies.
Memory Trick
“Think of 'GLOBE' – Global Links Of Business and Exchange.”
Flashcards
What is globalisation?
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Exam Questions
Describe and explain the impact of globalisation on local economies. [6 marks]
6 marksView mark scheme hint▾
Discuss both positive and negative impacts, including job creation and loss, economic growth, and cultural effects.
Explain how technological advancements have facilitated globalisation. [4 marks]
4 marksView mark scheme hint▾
Mention improvements in communication, transportation, and information exchange.
What is meant by multinational corporations? [2 marks]
2 marksView mark scheme hint▾
Define MNCs and provide an example.
Practice Quiz
What is a key feature of globalisation?
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