4.1.2 International trade and business growth Flashcards
1
Q
Exports?
A
goods firm produces in home market but sells in foreign market
2
Q
Imports?
A
goods brought in from another country
3
Q
Tariffs?
A
taxes imposed on imports
4
Q
Non tariff barriers?
A
subsides, numerical limits, creating specific rules for products
5
Q
Why do so many firms export?
A
easiest way to internationalise and least risky
6
Q
Threat to exporting and importing?
A
fluctuating exchange rates
7
Q
Division of labour?
A
different workers specialise in different productive activities
8
Q
Trading bloc?
A
group of countries that form agreement to unsure free trade between them
