Unit 9 Chapter 13 Flashcards Preview

Business Year 2 - Keywords > Unit 9 Chapter 13 > Flashcards

Flashcards in Unit 9 Chapter 13 Deck (10):
1

Free trade

Occurs when there is trade between countries without barriers such as tariffs and quotas

2

Tariff

A tax placed on foreign goods and services

3

Quota

A limit on the number of imported goods and services

4

Customs union

Occurs when there is free trade between member countries but an agreed tariff on non-members

5

Multinational company

A business that has operations based in overseas markets

6

Outsourcing

Occurs when a business moves its production overseas

7

Re-shoring

Occurs when a business moves production back to the domestic country

8

Export

Products produced in one country are sold in another country

9

Alliance

Agreements between two or more companies to combine their strengths and expertise in order to undertake a mutually beneficial project

10

Internationalisation

The growing tendency of companies to operate across national boundaries