Globalisation (AQA GCSE Business): Flashcards

How much one currency is worth compared to another

Goods/services businesses buy from other countries

Goods/services businesses sell to other countries

Currency becomes more valuable vs other currencies

Products become more expensive for foreign customers

Imported goods become cheaper to buy

Raw materials cost less, reducing production costs

Currency becomes less valuable vs other currencies

Products become cheaper for foreign customers

Imported goods become more expensive

Raw materials more expensive, increases production costs

Weaker currency (makes exports cheaper abroad)

Stronger currency (reduces import costs)

Uncertainty in predicting future costs and revenues