Superpowers have a significant influence over the global economic system (Edexcel A-Level Geography): Flashcards
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Economic system dominant since Cold War
Economic system dominant since Cold War
Free-market capitalism
Region where socialist economies collapsed
Region where socialist economies collapsed
USSR and Eastern Europe
China's economic shift from socialism
China's economic shift from socialism
Towards state capitalism
Free trade definition
Free trade definition
Exchange of goods and services free of taxes, tariffs, or quotas
IGO meaning
IGO meaning
Organizations (regional/global) whose members are nation states
WTO's main aim
WTO's main aim
Open trade and reduce protectionism
Corporations in top 100 richest entities
Corporations in top 100 richest entities
69 out of 100
Economies of scale effect on TNCs
Economies of scale effect on TNCs
Allow them to outcompete smaller countries
Brand value definition
Brand value definition
Value of brand measured by market share, customer opinion, loyalty
Patents protect
Patents protect
Technology