Effects of globalisation on the UK economy
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Globalisation involves the increased integration and interdependence of the global economy. It means there will be a rise in trade, and increase in movement of labour and capital.
Some of the effects of globalisation on the UK economy
- Comparative advantage. UK firms can benefit from specialising in goods where they have a comparative advantage. This will also lead to lower prices for consumers.
- Shifting sectors: Globalisation will lead to a shift in the sectors of the economy. For example,...
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