GLOBAL FORCES BUSINESS VOCABULARY IN USE (ADVANCED)

 

BUSINESS VOCABULARY IN USE (ADVANCED) 46. GLOBAL FORCES

 

A Paths to prosperity Since the fall of communism, a lot has been said about globalization – the tendency for the global economy to function as one unit, with increasing interdependence between different parts of the world. In terms of economic development, the world is divided into: B GDP and GNI The prosperity of a country is measured in terms of GDP (Gross Domestic Product), the value of its economic output: all the goods and services produced there in a year, GDP per capita is the total output of a particular country divided by the number of people living there. C Globalizing trends The supporters of globalization, the way that the world’s economy increasingly functions as one unit, say that it will continue to cause growth and prosperity to spread thanks to: EXERCISES 46.1 Complete the crossword with appropriate forms of expressions from A and B opposite. Across: 4. High levels of wealth can mean high _______ _______. (6,9) 10. The way wealth is spread (or not) through the population. (6,12) 11. See 3 down. 12. Abbreviation for 5 down. (3) 13. Some refer to rich countries as the _______. (5) Down: 1. Nation in the  process of industrializing (10,7) 2. Advanced economies are _______. (14) 3. and 11 across Countries depending on agriculture. (5,9) 4. Some _______ developed countries have a more rural economy. (4) 5. The total value of a country’s goods and services is its _______ _______ product. (5,8) 46.2 Match the examples of globalization (1-4) to the trends in C opposite. 1. The charge for transporting a whole container of goods across the Pacific can be as little as $50. 2. In today’s money, the cost of a three-minute phone call from London to New York in 1930 was £200. The same call costs less than £1 today.

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