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Business specification breakdown A-Level Edexcel unit 4
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Business specification breakdown A-Level Edexcel unit 4
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Theme 4global business
definitions
equations
,4.1
globalisation
,4.1.1
growing economies
• a) Growth rate of the UK economy compared to emerging economies
• b) Growing economic power of countries within Asia, Africa and other parts of the w
• c) Implications of economic growth for individuals and businesses:
o trade opportunities for businesses
o employment patterns
• d) Indicators of growth:
o Gross Domestic Product (GDP) per capita
o literacy
o health
o Human Development Index (HDI)
, • Where, why and how some countries experience rapid economic growth • Indicators of growth
Accepting FDI Economic growth – increase in a country's productive c
GDP
Stable domestic businesses GDP per capita
Stable governments Average amount of money made per person in a country
GDP Population
More access points (seaports, airports…)
Literacy
-% of adults that can read and write
• Growth of UK economy compared to others -Businesses look at this to see if a country can have workers set
BRICS – Brazil Russia India China South-Africa -find skilled workers at lower costs
Emerging superpowers -shows economic growth
Large, young populations -shows they can be more efficient/productive
Access to key resources and regional influence
Health
MINT – Mexico Indonesia Nigeria Turkey
Shows how good health care is, can lead to showing how develo
Favourable demographics in last 20 years
Life expectancy, pollution, access to clean water…
Attractive for FDI
Human development index (HDI)
Combines :
• Growing economic power in Asia/Africa
1. Life expectancy
China look for suppliers who have cheap transport costs, increasing economy in other Asian countries 2. Education
3. Income
These countries offer low-cost production, FDI is big there to build their economies even more, but rising wages
may put of FDI as they can find it cheaper somewhere else
• Benefits of economic growth
Higher incomes
• Implications of economic growth Individuals Education
People moving for work from rural to urban areas Reduced poverty
Business Increased consumption
More skilled workers
(trade opportunities) – More FDI means more to be spent on wages
• Costs of economic growth
Economy grows so consumption grows Inflation
Consumers have more to spend Income inequality
Greater stress on workers to produce more goods
Demand is higher, so its income elastic
(offshore production) –
Produce in other countries for cheaper costs
Increased domestic competition
FDI into UK makes more businesses, producing more competition for those domestic firms
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