Flashcards
2.4 Globalisation Key Words
Cards in this deck (11)
- 1GlobalisationThe trend for markets to become worldwide in scope (when a multinational company has different parts of the manufacturing process or all of the processes in different countries).
- 2Economies of ScaleWhen a business' unit costs of production fall as is output rises and the business expands (the more of something you produce, the cheaper it becomes to produce).
- 3Multinational Company (MNC)A company that produces goods and services in more than one country (also called transnational corporations).
- 4TakeoverWhen one business buys control of another one.
- 5International TradeThe selling of goods and services internationally across different national frontiers.
- 6Product DesignTranslates the needs of consumers or inventiveness of entrepreneurs and turns it into a sale-able product.
- 7Exchange RateHow much £1 is worth compared to another currency (such as the Euro or Dollar).
- 8QualityHow well your customer perceives your product to have been made or the level of service they feel they have received.
- 9ExportsGoods and services produced by a business in this country and sold to a different country.
- 10ImportsGoods and services purchased from overseas by consumers and businesses in this country.
- 11PriceThe amount of money a business asks customers to pay for a product
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- Year 10 Business Studies Flashcards on 2.4 Globalisation Key Words, created by Ethan Neale-Buckley on 17/04/2018.
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- Ethan Neale-Buckley
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