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  • Edexcel A Level Economics Theme 4 / Edexcel A Leve
  • Edexcel A level Economics Theme 4 / Edexcel A Leve
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Edexcel A

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Institution Edexcel A Level Economics Theme 4 / Edexcel A Leve
Course Edexcel A level Economics Theme 4 / Edexcel A Leve
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Edexcel A level Economics Theme 4 / Edexcel A Level Economics (A) Question Paper 2 June 2023 Globalisation - CORRECT ANSWER-The process in which national economies have become increasingly integrated and interdependant Trade liberalisation Trading blocs Growth of MNCs Technological advances Greater mobility of labour and capital - CORRECT ANSWER-Causes of globalisation (5) Advantages of globalisation (5) - CORRECT ANSWER-Lower prices Benefits of trade Greater employment Large economies of scale Free movement of labour and captial Disadvantages of globalisation (6) - CORRECT ANSWER-Growing inequality Higher structural unemployment Environmental costs Trade imbalances Risk of external shocks Less cultural diversity Absolute advantage - CORRECT ANSWER-When a country can produce a product using fewer factors of production than another nation Comparative advantage - CORRECT ANSWER-A country should specialise in the goods and services it can produce at the lowest opportunity cost, and then trade with another country Specialisation - CORRECT ANSWER-When a worker, firm, region or country produces a

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