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1 Found helpful • 32 Pages • Complete Study Notes • Year: Pre-2021
HSC comprehensive economics notes from a range of resources International economic integration ● The global economy ○ Economies of individual countries are linked together and changes in a single economy can have ripple effects on others ○ Eg. Great depression of the 1930s had a global impact with many countries experiencing an economic downturn ○ ● Gross World Product ○ Sum of total output of goods and services by all economies in the world over a period of time ● Globalisation ○ Integration between different countries and economies and the increased impact of international influences on all aspects of life and economic activity.
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