A-Level Geography Revision — Global Systems: Trade, Finance & TNCs
Revise Global Systems: Trade, Finance & TNCs for A-Level Geography with a topic explanation, worked example and common mistakes. Check the board notes for specification differences.
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- Global Systems: Trade, Finance & TNCs in A-Level Geography: explanation, examples, and practice links on this page.
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What is Global Systems: Trade, Finance & TNCs?
This topic examines the interconnectedness of the global economy, focusing on the role of global systems such as trade, finance, and transnational corporations (TNCs). It investigates the patterns and trends in global trade and investment, and the impact of TNCs on different countries. The topic also explores the challenges of managing the global economy, including the issue of inequality.
Board notes: Covered by AQA, Edexcel, and OCR. AQA has a focus on the concept of global value chains. Edexcel requires students to have a detailed understanding of the role of international financial institutions like the IMF and the World Bank. OCR often includes questions on the impact of globalisation on different groups of people.
Step-by-step explanationWorked examples
Worked example
When asked to 'assess the role of TNCs in the global economy', a student should consider both the advantages and disadvantages of their operations. The answer could include the creation of jobs and the transfer of technology, as well as the exploitation of workers and the environment. The answer should be supported by specific examples and conclude with a justified judgement on the overall role of TNCs.
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Start with low-focus cards for Global Systems: Trade, Finance & TNCs, then move into full exam-style practice when you want the heavier session.
Common mistakes
- 1Confusing the terms 'globalisation' and 'global systems'.
- 2Not being able to provide specific examples of TNCs and their activities.
- 3Describing the impacts of TNCs without considering both the positive and negative effects.
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Frequently asked questions
What is the World Trade Organization (WTO)?
The WTO is an international organization that deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably, and freely as possible.
How do TNCs contribute to globalisation?
TNCs are a major driving force of globalisation. They link together different countries through their production and supply chains, and they promote the global spread of products, brands, and cultures.