2.4 Flashcards
Globalistation
Markets to become a worldwide scope
A multinational company
Produces goods and services in more than one country
International trade
The process of selling goods or services across national services
Exports
Goods and services produced by a business in one country and sold in another
Growth
Occurs when a business sells more quantitys of its product
Economies of scale
The cost of producing a unit falls as output increases
Inward investment
When companies or businesses invest capital into another country for example new factories
Takeover
When a business takes control of another
Product design
The need of consumers or entrepreneurs in a saleable product
Quality
The extent by which a consumer is happy with the product
Price
The amount a business asks a customer to buy their product
Exchange rate
The price of one currency against another
Imports
Goods and services purchased from overseas customers in the domestic market
Profit
The amount of revenue made after exceeding costs
