Key facts: The global economy

This excellent BBC resource on Globalisation will give you an opportunity to

• Learn some important terms to do with globalisation
• Study some of the key reasons for globalisation
• Identify some of the winners and losers from globalisation
• Assess whether globalisation has or has not been a benefit
  

Instructions:
Click on this link Key facts: The global economy. Read ALL pages from this link to answer the following questions:

1. Define the terms “globalisation”, “tariff” and “foreign direct investment.
2. Describe the characteristics of globalisation (mentioned on the Introduction page).
3. Describe reasons that have caused the pace and scope of Globalisation to accelerate in recent years (mentioned on the Introduction page).
4. Explain with a suitable diagram, how cutting tariffs can boost trade in manufactured goods between rich countries (mentioned on the Trade page).
5. Analyse why it has been harder to reduce tariffs for primary products such as agriculture than it has been to reduce tariffs for manufactured products (mentioned on the Trade page).
6. There are winners and losers as a result of globalisation. In your view, to what extent has globalisation been successful? (mentioned on the Money page and Rich and Poor page).