2.4 Flashcards
Globalisation
The trend for markets to become worldwide in a scope
Multinational company
Produces goods and services in more than one country. They are also called transnational cooperations.
International trade
The selling of goods and services across national borders
Exports
Goods or services produced by a business and sold in another country
Tariff
A tax on a foreign goods imported into another country
Growth
When a business sells increased quantities of it’s product
Economies of scale
When the cost of producing a single unit falls as output increases
Inward investment
When governments, businesses and individuals invest captial into another country, for example building new factories or buying companies
Takeover
When one business buys control of another one
Product design
The needs of consumers, or the inventiveness of entrepreneurs , into a saleable oroduct
Quality
The extent to which a consumer is satisfied with a product
Price
The amount a business asks a consumer to pay for a single product.
Exchange rate
The price of one currency expressed in terms of another
Imports
Goods and services purchased from overseas customers in the domestic market
Profit
The amount by which a business’s revenue from all its saled exceeds its total costs
