Economics 19

  • Created by: Gabrielle
  • Created on: 30-12-13 14:39
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  • Global Economy
    • Emerging market economy
      • where per-capita income is in the middle to low range compared to other global economies
      • Valuable resources
      • Developing international standards
      • Issues with corrpution/human rights
      • Present opportunities, hit and run strategies
    • Single European Market
      • a market throughout which labour, capital and goods move freely
      • Common Currency area
        • A geographical area throughout which a single currency circulates as the medium of exchange
      • Benefits increase if there is a high degree of trade integration
    • Cyclical Defecit
      • Government income and expenditure is disrupted by the normal economic cycle
    • Structural Deficit
      • not dependent on movements in the economic cycle
    • Outsourcing – contracting out a part of the business’ operations to another organization
    • Globalization – growth in interdependence amongst world economies from removal of regulations


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