Economics - 1.1 - international economic integration

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5 Terms

1
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What is the global economy?

The sum of the interactions between the different individual economies in the world that are now increasingly linked together into a global economic system.

2
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The size of the global economy is measured through?

GWP (Gross world product)

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What is GWP?

The measure of the total output of all g + s produced by all economies in the world over a period.

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What is globalisation?

The increasing integration between different economies and the increased impact of international influences on all aspects of life and economic activity.

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