Flashcards
Business Studies
Cards in this deck (5)
- 1What is an Exchange rate?Is the price at which one currency can be traded for another.
- 2List 5 main methods of restricting imports.Quotas/
Tariffs/
Subsidies/
Product Safety Standards/
Government favouritism - 3Why are many firms changing their product and packaging to become more environmentally friendly?Businesses are becoming more worried about the environment and some want a "Green Image."
- 4What causes can arise from overspecialisation of an economy?Overspecialisation can create vulnerability due to market/climate/cost changes.
- 5how has the EU promoted "Free Trade" between member countries?They made it a single market, allowed free migration and travel, there are no trade barriers for import and export and therefore costs are reduced.