Globalisation Flashcards

1
Q

call centres

A

A place that is equipped to deal with a large volume of phone calls at the same time.

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2
Q

disposable income

A

Money available for spending and saving once taxes have been deducted.

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3
Q

distribution centre

A

A distribution centre stores products in a warehouse or other large building, to be distributed to retailers and wholesalers.

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4
Q

e-commerce

A

The buying and selling of goods and services online.

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5
Q

exchange rate

A

The value of one currency against another.

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6
Q

exports

A

Products and services produced by a country and sold to other countries around the world.

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7
Q

halal

A

Any action or thing which is permitted by Muslim law.

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8
Q

import

A

Goods or services which enter a country.

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9
Q

international trade

A

The buying and selling of goods and services between different countries.

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10
Q

kosher

A

The word means fit or proper. Foods permitted by and prepared in accordance with Jewish dietary laws.

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11
Q

profit margin

A

The difference between sales revenue and total costs expressed as a percentage.

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12
Q

protectionism

A

Protectionism is the process of protecting domestic industries by adding tariffs or taxes onto imports.

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13
Q

service industry

A

A job which involves payment for a service, eg a hotel receptionist is paid to check-in/check-out people from the hotel.

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14
Q

tariffs

A

A tax added to the cost of imports.

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15
Q

trading bloc

A

A group of countries who have agreed to share trading agreements, and minimise barriers of trade between them.

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