International Trade and Business Growth (Edexcel A-Level Business): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
Exporting
Exporting
Selling goods/services to customers in foreign countries
Invisible exports
Invisible exports
Services rather than physical goods (e.g., banking, tourism)
Tariffs
Tariffs
Taxes on imports
Non-tariff barriers (examples)
Non-tariff barriers (examples)
Subsidies, quotas, local content rules, technical standards
Division of labour
Division of labour
Workers specialise in particular productive activities
3 benefits of specialisation
3 benefits of specialisation
Increased speed, enhanced skill, time savings
Comparative advantage
Comparative advantage
What each country does relatively better (Ricardo)
FDI definition
FDI definition
Equity stake of more than 10% in a foreign enterprise
Horizontal FDI
Horizontal FDI
Producing same products abroad as the firm makes at home
Greenfield investment
Greenfield investment
Building new facilities from scratch in a foreign country