logo

Learning objective

Understand the significance of globalisation, including its definition and underlying reasons, as well as the opportunities and challenges it presents for businesses. Discuss why governments may implement import tariffs and quotas.

Read the explanation, check the common trap, then practise with flashcards and questions.

Practise this topicRead the exam answerTopic hub

Exam focus

  • Read the explanation.
  • Check key terms.
  • Practise with linked questions.
Cambridge IGCSE Business StudiesExternal influences on business activity

Study support

Understand this objective

Quick explanation

Understand the significance of globalisation, including its definition and underlying reasons, as well as the opportunities and challenges it presents for businesses. Discuss why governments may implement import tariffs and quotas

  • This point belongs to Business and the international economy, especially Business and the international economy outcomes.
  • You need to be able to understand the significance of globalisation, including its definition and underlying reasons, as well as the opportunities and challenges it presents for businesses. Discuss why governments may implement import tariffs and quotas.
  • The key ideas to know are Explain, Identify, and Outline.
  • Use the linked flashcards and practice questions to check recall, then practise applying the idea in an exam-style answer.

Key concepts

ExplainIdentifyOutline

Why it matters

This objective helps connect Business and the international economy outcomes to exam-style questions, flashcards, and revision notes for Business and the international economy.

Revision tools

Choose how to practise

Back to topic hub
Flashcards10 linked cards

Flashcard 1 of 10

Press Space to flip, arrows to move
Practice Questions7 linked questions

Question 1 of 7

Choose an answer, get feedback, then move sideways through the set.

0 of 5 attempted

Paper 1 structured question: Business and the international economy

Paper 1Short Answer and Data Response1 marks

Description

Globalisation Overview

Globalisation has led to increased interconnectedness among markets, allowing businesses to operate internationally. However, it also brings challenges such as competition from foreign firms.

  1. a

    State one opportunity that globalisation presents for businesses.

    Aim for approximately 1 distinct marking point.

    [1]
Revision notestopic notes

Open the full topic revision notes when you are ready to review this objective in context.

Open revision notes

Related learning objectives

Revision hubs

Move back to a broader study route

Cambridge IGCSEBusiness Studies resources