Globalisation Flashcards
What is ‘globalisation’?
The trend for markets to trade and sell internationally
What does ‘MNC’ stand for?
Multi-National Company
What do MNC’s do?
Produce goods and services in more than one country
What is ‘International Trade’?
Act of selling goods and services across national borders
What are ‘Exports’?
Goods and services that are sold by a country and sold into another
What is a ‘Tariff’?
A tax on imported goods into a country
Name 3 advantages of Globalisation?
Cheaper Resources
Inward investment
Rapid growth
Name 3 disadvantages for Globalisation
Increased threat of takeover
New competitors
Fierce competition
What is ‘Inward Investment’?
When companies invest money into a country by building stuff like Factories or Shops
What is ‘Product Design’?
How well a product translates the wants of the consumer.
What is ‘Quality’
How much a customer is satified with a product
What is ‘price’
How much money a business sells for a single product
What is ‘exchange rate’
How much a currency is worth to another currency
