7.1 - 9.2

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  • Created by: Ashvarya
  • Created on: 19-11-14 20:27
Globalisation
an expansion of world trade in goods and services, leading to greater international interdependence
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Multinational company (MNC)
a company that has operations all over the world
2 of 6
Absolute advantage
when a country is able to provide a good or service using fewer resources and at a lower cost than another country
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Specialisation
being better than another country at providing a good or service, in terms of the quantity of output and lower cost
4 of 6
International trade
the exchange of goods and services across international boundaries
5 of 6
Free trade
an absence of tariffs, quotas and regulations designed to reduce or prevent trade among nations
6 of 6

Other cards in this set

Card 2

Front

Multinational company (MNC)

Back

a company that has operations all over the world

Card 3

Front

Absolute advantage

Back

Preview of the front of card 3

Card 4

Front

Specialisation

Back

Preview of the front of card 4

Card 5

Front

International trade

Back

Preview of the front of card 5
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