4.2.5- Global Competitiveness Flashcards
1
Q
Impact of exchange rates on international trade
A
-if the pound appreciates, UK exports to other countries will be more expensive
2
Q
effect of the exchange rate depends on
A
- inflation
- recession
- ped
- raw materials
- competition
3
Q
competitive advantage
A
advantage over competitors gained by offering consumers greater value, either by lowering prices or by providing greater benefits and services that justifies the price
4
Q
low cost leadership
A
business will seek to produce products that match the quality of its competitors, at a lower price
5
Q
skills shortage
A
lack of workers with the right qualifications in the industry
