Key terms Flashcards
1
Q
Worker rights
A
Sick-leave, minimum wage,maternity leave,health and safety,minimum holidays
2
Q
Equality
A
Equal pay
3
Q
Exchange rate
A
The price of one currency expressed in terms of another
4
Q
Quality
A
Extent of quality satisfaction
5
Q
Price
A
Amount a business asks customers to pay
6
Q
Globalisation
A
Is the trend for markets to become worldwide
7
Q
Exports
A
Are goods and services across National borders
8
Q
Growth
A
When a business sells increased quantitesof its product
9
Q
Economic of scale
A
Occur when the cost of producing a single unit falls as output increases
10
Q
Takeover
A
Occurs when a business buys and controls another one
11
Q
Profits
A
The revenue a business makes
12
Q
Tariff
A
Is a tax on foreign goods
13
Q
Imports
A
Are goods and services purchased from oversea customers in the domestic market
