External Influences Flashcards
(20 cards)
Trade without barriers or restrictions
Free trade
The stage of the business cycle where deflation is most likely to occur
Slump
A tax on imports
Tariffs
The exchange of goods and services across borders
International trade
The stakeholder who may be impacted by lower prices because of international trade
Customers
The name of the legislation which prevents one business copying another’s slogan
Trademark
A type of market structure characterised by the dominance of a few firms
Oligopoly
Supply and demand factors
Market forces
The economic and political union of most European states aimed at reducing trade barriers and harmonising economic policy
European Union
A tax on business profits
Corporation tax
Any type of tax on spending
In direct tax
Avoidance of the depletion of natural resources
Sustainability
The type of pollution caused by deforestation
Land pollution
The reward for saving and the cost of borrowing
Interest rate
The name of the law which protects personal data
Data protection act
The overall value of a market
Market size
A group of countries within a particular geographical region that protect themselves from imports from non members
Trading bloc
The amount of good or service that a business wishes to sell at any given price
Supply
A sale which results in a payment into the economy
Export
The acronym which represents the name of the regulator who works to make sure that markets are fair
CMA
