Trade Flashcards
Who do we import from
China
USA
Japan
Singapore
Who do we export to
Japan China Korea India USA
What goods and services do we import
Petrol
Passenger motor vehicles
Gold
Medicines
What goods and services do we export
Coal Iron Ore Education Gold
Definition of trade.
The exchange of goods and services between nations
Benefits of trade
Trade offers countries for economic growth
Presents consumers with a wider range of product and service choices
Greater global competition has forced the reducing of costs of consumer items
What are the impediments of trade
Events such as war or terrorist attacks
When countries implement tariffs
Fluctuations in the value of the Australian dollar
What is a tariff
A tariff is a tax on imported goods
What is a multinational company
Multinational companies are organisations that operate in more than one country. Their head office is based in one country but they have branches in other companies. Example Toyota
Why are multinational companies growing
List 3 points
Rapid advance in technology
Laws regarding foreign investment have been relaxed in many countries
Trade agreements between countries have seen a reduction in trade barriers
