international trade and business growth

Question 1

international trade is

Answer 1

the exchange of capital (goods and services) across international borders
get acces to new market

Question 2

business growth can be measures by 3 things

Answer 2

assets
sales revenue
operating profit + market share

Question 3

imports are

Answer 3

goods bought from another country

cost the county and business money

Question 4

exports are

Answer 4

goods produced in one country and sold in another

earn money for both the country and the business

Question 5

currency appreciation is

Answer 5

an increase in the country currency
weakens position of exporter but helps importer
foreign goods become cheaper to buy

Question 6

currency depreciation is

Answer 6

the loss of a country currency

makes exporting goods more competitive in global market

Question 7

specialisation is

Answer 7

concentrating on a product or task producing a small number of products
can create competitive advantage
opportunities for economies of scale

Question 8

how can growth be helped to achieve

Answer 8

FDI
attract it using low levels of tax and subsidies
can grow through merger/takeover or relocating in another country