Globalisation Flashcards
Globalisation
Is the trend for markets to become worldwide In scope
Multinational company
Produces goods and services in more than one country. They are also called transnational corporations
Quality
Is the extent to which a consumer satisfied with a product
Price
Is the amount a business asks a customer to pay for a single product
Imports
All goods and services purchased from overseas customers in domestic markets
Exchange rate
Is the price of one currency expressed in terms another
Growth
Occurs when a business sells increase qualities of its product
Economies of scale
Occur when the cost of producing a single unit falls as output increases
Inward investment
Because when government businesses and individuals invest capital into another country for example building new factories or buying companies
A takeover
Because when one business buys control of another one
Profit
Is the amount by which a business revenue from all its sales exceeds its total cost
Product design
Translate the needs of consumers or the inventiveness of enterprise into a sellable product
International trade
Is the selling of goods and services across national borders
Exports
Our goods and services produced by business in one country and sold in another
Tariff
Is a tax on for foreign goods imported into another country
