The EU, emerging markets...chap15 Flashcards
1
Q
What is a single market?
A
- Type of trade bloc where most barriers have been removed
- Countries can trade freely with a set of regulations
- Makes trade easier
- Creates wealth and jobs
2
Q
The removal of trade barriers…
A
- Harmonisiation of specifications, safety standards and testing requirments for products
- Single market (the aim of single market is to remove trade barriers and make it easier to trade)
3
Q
What is globalisation?
A
The process of a business growing in world markets and start operating on an international scale through a process of intergration.
4
Q
Advantages and disadvantages of globalisation
A
Advantages
- The business will bring investment, jobs and training
- News and ideas can spread quickly and easily
Disadvantage
- Benefits are only felt by developed countries
5
Q
How can global mergers/takeovers effect a business?
A
- Become multinational
- Access to new customers
- Risk is spread over different countries
- Securing resources/suppliers
- Maintaining/increasing global competitors
6
Q
What is free trade?
A
Trade without tarrifs or quotas
7
Q
What are tariffs?
A
A form of tax to be paid on particular imports and exports.
8
Q
What are quotas?
A
A government imposed limit on the quantity of the good being imported/exported
