4.1.9 international competitiveness Flashcards
1
Q
definition of international competitiveness
A
the ability of a nation to compete successfully overseas and to sustain improvements in living standards and outputs
2
Q
components of international competitiveness
A
price competitiveness
non-price competitiveness
ability to attract FDI
3
Q
unit labour costs formula
A
unit labour costs = total labour cost / output
4
Q
definition of relative export prices
A
ratio to one country’s export prices relative to another country
5
Q
factors that influence international competitiveness
A
unit labour costs
labour flexibility/skills
innovation
regulation
economic stability
