A2 business studies unit 3 international business 3.1 A

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1. what is the definition Trade liberalisation

  • a group of countries where barriers to trade are reduced or eliminated
  • refers to the process of removing barriers to trade
  • taxes on imported goods
  • locating production to a foreign country
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2. what is the definition of offshoring

  • a government policy aimed at protecting domestic industry
  • locating production to a foreign country
  • to extend the life of a product
  • physical limits on the level of specific imports in one year

3. which of these is not a benefit of trading with in a trading bloc

  • grater competition with in a trading bloc can increase efficiency within many firms
  • reaching an agreement with member states can be difficult and time consuming
  • risk spreading
  • huge new markets accessible

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

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

5. Which of these is a benefit for UK business if the UK joined the euro

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

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