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Globalisation
Study how UK businesses compete internationally and how exchange rates affect importers and exporters.
5
Objectives
10
Flashcards
10
Questions
90 min
Study time
AqaGcseBusinessInfluences on business
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Syllabus checklist
What you need to know
5 objective pages available
International competition and globalisation3 objectives
- Explain globalisation and its effects on UK businesses.
- Analyse benefits and drawbacks of globalisation for UK businesses.
- Explain how UK businesses may compete internationally through better design, higher quality and lower prices.
Exchange rates2 objectives
- Explain how exchange rates can affect profits and sales for businesses that import.
- Explain how exchange rates can affect profits and sales for businesses that export.
Key terms
globalisationCompetitive advantageexchange rateExchange rate
Exam tips
- Structure your short answer: Begin with a concise definition, then list two key effects, and conclude with a balanced view of benefits and challenges.
- Structure your answer clearly: Begin with a brief statement of the main point, then develop two to three cause‑effect arguments, and finish with a concise conclusion.
Common mistakes
- Confusing globalisation with international trade: Globalisation also includes foreign direct investment, technology transfer, and cultural exchange, all of which affect business operations.
- Confusing globalisation with export only: Globalisation also involves importing, outsourcing, foreign investment, and cultural exchange, all of which affect UK businesses.
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