This is a summary of section 4.1 of the Pearson Edexcel A-Level Business syllabus. The notes are organised according to the syllabus, split up under the headings: Growing Economies; International Trade and Business Growth; Factors Contributing to Increased Globalisation; Protectionism; and Trading ...
4.1.1 – Growiog Ecooomies
Globalisaton Globalisaton is the integraton of internatonal economies
leading to a world market
Emerging economies An economy in the process of industrialisaton or rapid
growth
Economic power The relatie importance of a country based on its ability to
buy, sell and produce on a global scale
Economic growth A rise in the ialue of real Gross Domestc Product (GDP),
this takes into account infaton
Trade opportunites The new prospects aiailable for businesses as a result of
economic growth
Employment paterns Underlying trends in people’s attude to work that afect
factors such as the number of hours worked, the nature of
jobs carried out and incomes
Gross Domestc Product The annual GDP i.e. the total ialue of output in an economy
(GDP) per capita in a giien period of tme diiided by the aierage populaton
in that year
Literacy The ability to read and write; a wider defniton might
include the skills required to access knowledge
Health The absence of illness and injury; a wider defniton might
include physical, mental and social well-being
Human Deielopment A measure of economic growth, created in 1990, that
Index (HDI) measures economic progress through the achieiement of
people rather than simply through income and growth
fgures
GDP per capita Total GDP/Total populaton
Deieloped Economies:
High leiel of GDP per capita
Industrialised
Good general standards of liiing
Efectie infrastructure
Noneconomic factors such as educaton, literacy and health
Emerging Economies:
Economies making a transiton
Rapid industrialisaton (i.e. deielopment of secondary and tertary sectors)
Haie the potental to be deieloped economies
Faster long-term economic growth than most deieloped countries
Many inhabitants stll in poierty, though economic growth is taking many out of
poierty
BRICS
Brazil, Russia, India, China, South Africa
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