Business and globalisation Flashcards
Call centres
A place that is equipped to deal with a large volume of phone calls at the same time.
Disposable income
Money available for spending and saving once taxes have been deducted.
Distribution centre
A distribution centre stores products in a warehouse or other large building, to be distributed to retailers and wholesalers.
E-commerce
The buying and selling of goods and services online.
Exchange rate
The value of one currency against another.
Exports
Products and services produced by a country and sold to other countries around the world.
Halal
Any action or thing which is permitted by Muslim law.
Import
Goods or services which enter a country.
International trade
The buying and selling of goods and services between different countries.
Kosher
The word means fit or proper. Foods permitted by and prepared in accordance with Jewish dietary laws.
Profit margin
The difference between sales revenue and total costs expressed as a percentage.
Protectionism
Protectionism is the process of protecting domestic industries by adding tariffs or taxes onto imports.
Service industry
A job which involves payment for a service, eg a hotel receptionist is paid to check-in/check-out people from the hotel.
Tariffs
A tax added to the cost of imports.
Trading bloc
A group of countries who have agreed to share trading agreements, and minimize barriers of trade between them.
