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Question 1 (a) What is meant by globalisation? What factors have contributed to the rapid...

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Question 1 (a) What is meant by globalisation? What factors have contributed to the rapid globalisation of the world economy in recent years? Discuss. (5 marks, 200-250 words) (b) The value of exports, imports and GDP for a selected group of countries are provided in the table below. All values are in US dollars. Country Exports Goods Services 19.6 256.0 36.7 3.0 Imports GDP Goods Services 12.7 1.8 25.9 236.9 73.1 2,492.9 9.3 1.4 12.9 2.4 1.9 9.3 37.1 10.8 158.9 55.0 22.5 244.0 6.9 Bahrain Brazil Cambodia Chad New Zealand Nigeria 2.2 4.6 37.7 116.0 0.2 9.9 2.3 Based on the information available discuss the level of globalisation and the importance of trade for the countries listed above? (5 marks, 200-250 words)

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