Trading bloc Study guides, Revision notes & Summaries

ALL IB Economics SL Terms Absolute poverty - ANS-The inability of an individual or a family to afford a basic standard of goods and services, where the standard is absolute and unchanging over time. Absolute poverty is defined in relation to a nationally or internationally determined 'poverty line', which determines the minimum income that can sustain a family in terms of its basic needs. Actual output - ANS-The quantity of output actually produced by an economy. Ad Valorem Taxes - ...

A - ANSWER-Which one of the following is NOT true of cultural or political beliefs in America. A. America's origins as a wilderness society led to the belief that government is responsible for providing material assistance to its citizens. B. Americans place a greater emphasis than Europeans on personal advancement through education. C. Never has an American majority expressed a willingness to entrust health insurance fully to the government. D. America has a strong individualistic culture/...

Section A Total Qu Part Marking guidance marks 01 1 Explain how differential access to markets can impact on economic 4 well-being. AO1 = 4 Mark scheme Award one mark each for points of knowledge or understanding. Allow extra marks for developed points (d). Notes for answers Allow credit for specific knowledge and understanding of what differential access means and how it affects economic well-being. Do not double credit opposite points such as ‘in a trade bloc means easier t...

Social Studies 10-1: Unit 3 - Economic Globalization Practice Questions and Answers 100% Pass Nationalize - Answer- The taking over of ownership by a government from private businesses Common Market - Answer- An agreement between or among countries that includes the free trade of goods and services and the free movement of capital and labour within the trading bloc International Bank for Reconstruction and Development (IBRD) - Answer- An institution of the World Bank that helps low & mi...

Cost - ANSWER-Economies of scale and scope. Exploiting cost of factors of production Competition - ANSWER-New Markets and increased levels of trade Government - ANSWER-Favorable policies and support for industry Subsidies - ANSWER-A sum of money granted by the government to assist an industry or business Patents - ANSWER-Protects inventions and improvements to existing inventions for a limited period of time in exchange for detailed public disclosure of those inventions Copyrights...

AQA A-level GEOGRAPHY 7037/2 Paper 2 Human Geography Mark scheme Version: 1.0 Final Qu Part Marking guidance Total marks 01 1 Explain how differential access to markets can impact on economic well-being. Mark scheme Award one mark each for points of knowledge or understanding. Allow extra marks for developed points (d). Notes for answers Allow credit for specific knowledge and understanding of what differential access means and how it affects economic well-being. Do not double credit o...

Sure Start is starting a new division for rechargeable batteries in different parts of the world. What was the globalization driver of this decision? - ANSWER-Competition drivers are about entering new markets to beat competitors. Sure Start has identified a market that does not have a lot of competition since it is a fairly new market. Which type of globalization is represented by Sure Start expanding into South America, Europe, and Asia? - ANSWER-Economic globalization is the globalization...

What are some examples of economic globalisation since the late 20th century? - ANSWER-- Trade in goods and services - Foreign direct investment i.e. firms outsourcing production overseas - multinational and transnational companies - Foreign portfolio investment i.e. trading of shares & bonds across national boundaries, development of global financial 'centres' e.g. City of London - Hot money flows - moving money balances overseas e.g. for tax avoidance, or to pursue higher interest rates ...

Business - correct answer Any activity that seeks to provide goods and services to others while operating at a profit Profit - correct answer The amount a business earns above and beyond what it spends for salaries and other expenses. Entreprenuer - correct answer A person who risks time and money to start and manage a business Revenue - correct answer The tota...

Module 2 – Unit 1) Members of a work team are from many different countries. They share their thoughts on developing a strategy to market a product in several different countries. What is the term for the international integration of the team members' exchange of worldviews and ideas to develop the strategy? a. Globalization b. Job availability c. Wealth inequality d. Outsourcing Which type of globalization refers to the international movement of goods, capital, and services? a. Cultur...