Flashcards

Economics section D

Kiran English 15 cards

Cards in this deck (15)

1Globalisationthe growing integration of the worlds economies
2Multinational companya large and powerful firm that sells goods and services into global markets and owns production plants and faculties all over the world
3Development aidmoney and other forms of assistance that is given to less developed countries by governments in developed countries
4Foreign direct investmentbusiness investment undertaken by a firm in another country
5Free tradetrade between nations that is completely without government restrictions
6Infant industriesnew industries yet to establish themselves
7Protectionisman approach used by a government to protect domestic producers
8Quotaa physical limit on the quantity of imports allowed into a country
9Tariffs/Customs dutiesa tax on imports to make them more expensive
10Trade barriersmeasures designed to restrict trade
11Trading bloca group of countries situated in the same region that join together and enjoy trade free tariffs,quotas and other forms of trade barriers
12World Trade Organisation (WTO)and international oragansiation that promotes free trade by persuading other countries to abolish tariffs and other barriers
13Exchange ratesthe price of one currency in terms of another
14Foreign exchange marketthe markets where foreign currencies can be brought and sold
15Devaluationthe depreciation or fall in the value fo a currency

Description: Flashcards on Economics section D, created by Kiran on 02/04/2015.
Created by: Kiran
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