Business and globalization

Question 1

call centers

Answer 1

A place that is equipped to deal with a large volume of phone calls at the same time.

Question 2

disposable income

Answer 2

Money available for spending and saving once taxes have been deducted.

Question 3

distribution center

Answer 3

A distribution center stores products in a warehouse or other large building, to be distributed to retailers and wholesalers.

Question 4

e-commerce

Answer 4

The buying and selling of goods and services online.

Question 5

exchange rate

Answer 5

The value of one currency against another.

Question 6

exports

Answer 6

Products and services produced by a country and sold to other countries around the world.

Question 7

halal

Answer 7

Any action or thing which is permitted by Muslim law.

Question 8

import

Answer 8

Goods or services which enter a country.

Question 9

international trade

Answer 9

The buying and selling of goods and services between different countries.

Question 10

kosher

Answer 10

The word means fit or proper. Foods permitted by and prepared in accordance with Jewish dietary laws.

Question 11

profit margin

Answer 11

The difference between sales revenue and total costs expressed as a percentage.

Question 12

protectionism

Answer 12

Protectionism is the process of protecting domestic industries by adding tariffs or taxes onto imports.

Question 13

service industry

Answer 13

A job which involves payment for a service, eg a hotel receptionist is paid to check-in/check-out people from the hotel.

Question 14

tariffs

Answer 14

A tax added to the cost of imports.

Question 15

trading bloc

Answer 15

A group of countries who have agreed to share trading agreements, and minimize barriers of trade between them.

Question 16

tariff

Answer 16

a tax or duty to be paid on a particular class of imports or exports.