Evaluate the likely impact of globalisation on the global economy

Edexcel A-Level Economics 25 Mark Question

With global economic growth slowing and inequality rising, the case against globalisation is strengthening. But there are also many benefits to globalisation. Global trade and international trade agreements allow countries to focus on their strengths and share expertise, as well as reducing risk through diversification. Evaluate the likely impact of globalisation on the global economy. (June 2022)

Plan

• Paragraph 1
  • Argument: one impact of globalisation is lower prices
  • Diagram: removal of tariff, increase in sras
  • Evaluation: inflation could increase in countries that depend on exports e.g. China
• Paragraph 2
  • Argument: another impact of globalisation is an increase in specialisation and an increase in productivity
  • Diagram: comparative advantage model, right shift in LRAS
  • Evaluation: question the assumptions of comparative advantage model

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