The causes of globalisation
Globalisation — the growing economic integration of countries worldwide — has been driven by cheaper transport, new technology, and governments removing barriers to trade and investment.
Real World
The World Trade Organization's creation in 1995 and subsequent trade rounds reduced average global tariffs from around 22% (post-WWII) to under 5%, directly enabling China to become the world's largest exporter within two decades.
Exam Focus
Group causes into categories — technological, political, and cost-based — to demonstrate analytical breadth rather than listing unconnected points.
Price Elasticity of Demand
PED = % change in quantity demanded ÷ % change in price
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