International Trade

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  • Created by: Christie
  • Created on: 28-11-12 15:16
What are the reasons to trade internationally?
More revenue/profit/market share Selling in multiple markets spreads the risk Government schemes (i.e. UK government Export Credits guarantee department) can reduce costs Declining products in PLC could be successful in new markets
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What is the difference between outsourcing and offshoring?
Outsourcing means seeking suppliers outside the business. Off shoring means sourcing from other countries
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What does trade liberalisation mean?
The process of limiting and reducing barriers to trade so that economies ultimately move closer to free trade.
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What is the difference between trade bloc and trade block?
A bloc is a group of countries taking steps to increase mutual trade. A block is a barrier reducing trade.
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What are the 3 types of trade bloc agreement?
A free trade agreement, a customs union and a single market
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Other cards in this set

Card 2

Front

What is the difference between outsourcing and offshoring?

Back

Outsourcing means seeking suppliers outside the business. Off shoring means sourcing from other countries

Card 3

Front

What does trade liberalisation mean?

Back

Preview of the front of card 3

Card 4

Front

What is the difference between trade bloc and trade block?

Back

Preview of the front of card 4

Card 5

Front

What are the 3 types of trade bloc agreement?

Back

Preview of the front of card 5

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