1.3 Flashcards
Transnational corporation (TNC)
A company with branches in more than one country.
Supply chain
A network of economic activities that covers all the steps to produce finished goods.
Raw materials
Unprocessed or minimally processed goods.
Intermediate goods
Processed goods that are used as input in the production of other goods.
Final goods
Goods that are directly used by consumers.
Profit
The total amount of money a company is left with when all its costs are deducted from revenue earned.
Revenue
The total amount of money a company earns from selling its products.
Costs
The total amount of money it takes a company to make and sell its products.
Offshoring
The relocation of parts of the supply chain from one country to another.
International division of labour
The pattern of how the different parts of supply chains are divided amongst different types of countries.
Assemblage
The conversion of separate parts into one product.
Sales market
The area where a company sells its products.
