what is the acronym for a strong pound, meaning the currency has appreciated
SPICED
1 of 15
when a business decides to focus its labour on a specific production
specialisation
2 of 15
what does FDI stand for
foreign direct investment
3 of 15
trade liberalisation, political change, reduced transport and communication costs, increased significance of TNCs, increased fdi, migration, growth of labour force and structural change are all factors contributing to what?
globalisation
4 of 15
the removal of trade barriers, such as tariffs or quotas
trade liberalisation
5 of 15
a type of intergovernmental agreement to reduce regional trade barriers
trading bloc
6 of 15
USA, Mexico and Canada make up what trading bloc
nafta
7 of 15
what type of market place is the EU bloc
single
8 of 15
Thailand, Burma, Philippines, Laos, Malaysia, Cambodia, Vietnam and Brunei make up what trading bloc
asean
9 of 15
trade that takes place between countries without protectionism
free trade
10 of 15
cost competitiveness/ leader and differentiation are ways to gain what
competitive advantage
11 of 15
FDI flows, balance of payments, technology & skills transfer, consumers, business culture and tax revenues & transfer pricing are all impacted by MNCs in what type of economy
national economy
12 of 15
a business that operates 2 or more countries
multinational corporations
13 of 15
job creation is a positive impact of MNCs on what
local economy
14 of 15
when the profit made by the MNC doesn't go to the host country - a main impact that an MNC has on a local economy, when considering their profits
profit leakage
15 of 15
Other cards in this set
Card 2
Front
when a business decides to focus its labour on a specific production
Back
specialisation
Card 3
Front
what does FDI stand for
Back
Card 4
Front
trade liberalisation, political change, reduced transport and communication costs, increased significance of TNCs, increased fdi, migration, growth of labour force and structural change are all factors contributing to what?
Back
Card 5
Front
the removal of trade barriers, such as tariffs or quotas
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