13316599
Description
Flashcards by George Benson, updated more than 1 year ago
|
|
Created by George Benson
over 6 years ago
|
|
| Question | Answer |
| Globalisation | The trend for markets to become worldwide in scope(when a company has different parts manufactured or all parts processed in different countries) |
| Economies of scale | When a business's unit costs of production fall as its output rises and the business expands( the more the business produces the item costs. |
| Multinational company (MNC) (transnational corporations) | A company that produces goods and services in more than one country,not just its own,meaning it has expanded globally. |
| Takeover | When one business buys control of another,generally when it is competing and under threat of obsolescence. |
| International Trade | When businesses trade goods and services internationally |
| Product Design | When products are made for what the customers satisfaction and needs,not the businesses needs. |
| Inward investment | Where a company has been invested in,this can be confused with the company investing,although inward investment is occurring to the company being invested in. |
| Product Design | Finding out what consumers want, then design and making a product to meet customer needs. |
| Exchange Rate | How much £1 is worth compared to another currency.such as Euro or Dollar) |
| Quality | How well your customer perceives your product to have been made or the level of service they feel they have received. |
| Exports | Goods and services produced by a business in this country and sold to a different country. |
| Imports | Goods and services purchased from overseas by consumers and business in this country. |
| Price | The amount of money a business asks customers to pay for a product. |
Want to create your own Flashcards for free with GoConqr? Learn more.