Key Terms Unit 3

1. includes all transport and communication facilities, the provision of basic services such as energy and water supplies (14)
4. taxes on imported goods, they make the price higher and sales will generally be lower (7)
7. buying inputs from an independent supplier to exploit cost savings (11)
8. Brazil, Russia, India and China; the world's 4 largest fast-growing economies, all are often described as emerging economies (4)
9. idea that after a merger or takeover, the performance of a combined enterprise will exceed that of its previously separate parts (7)
10. have completely free trade internally and a single unified trade policy covering all member countries' trade with the rest of the world, there is free movement of goods, service, people and capital (6, 7)

2. exists if the real resource cost of a product is lower in one country than another (8, 9)
3. group of countries where barriers to trade are reduced or eliminated between member states (5, 5)
5. groups of people who have interests and values in common, may be based on hobbies, religious background etc. (11)
6. physical limits on the level of specific imports in any one year (6)

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