A2 business studies unit 3 international business 3.1 A

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1. what is the definition Trade liberalisation

  • refers to the process of removing barriers to trade
  • locating production to a foreign country
  • taxes on imported goods
  • a group of countries where barriers to trade are reduced or eliminated
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2. Which of these is a benefit for UK business if the UK joined the euro

  • transparent costs throughout the eurozone
  • a reduction in transaction costs
  • initial one of conversation cost
  • exchange rates are set by the ECB

3. What is the definition of a tariff

  • refers to the many phases a product goes through
  • taxes on imported goods
  • a group of countries where barriers to trade are reduced or eliminated
  • refers to the process of removing barriers to trade

4. Which of these is not a pull factor for a business to trade internationally

  • saturated domestic market
  • risk spreading
  • economies of scale
  • global sourcing

5. what is the definition of economies scale

  • it has become difficult to expand sales further
  • investing in a country other then the one head office is located
  • a reduction in the advrage cost of production brought about by the increase in the size and scale of the business
  • stands for Brazil Russia and China

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