GCSE Business - Theme 2 - 2.1 Globalisation

An import is a

• Good/service brought into a country
• Good/service sent to another country
• Good brought into a country

An export is a

• Good/service brought into a country
• Good/service sent to another country
• Good brought into a country

Too many imports will make your currency

• Lose value
• Gain value

The currency of the eurozone is euros and

• Cents
• Pence
• Dollars

What is a tariff?

• A fee added to imports
• A certain quantity of goods that are allowed to be brought in
• Government giving money to or helping manufacturers

What is a subsidy?

• A fee added to imports
• A certain quantity of goods that are allowed to be brought in
• Government giving money to or helping manufacturers

Foreign exchange is

• Buying goods in a foreign country
• A company that buys and sells currency
• Buying and selling the currencies used in other countries

A strong currency means that

• Both imports and exports will be expensive
• Imports will be cheap and exports will be expensive
• Imports will be expensive and exports will be cheap

A weak currency

• Means that tourists are more likely to visit
• Means that tourists are less likely to visit
• Has no impact on whether tourists will visit �

Do countries specialize?

• Yes
• No