GCSE Business studies - 2.1.3 business and globalisation

Taxes charged only on imported goods

• Income tax

• Indirect taxation

• Excise duties

• Tariffs

Goods and services bought from overseas

• Imports

• Exports

• Subsidies

• Expenditure

A group of countries that have agreed to have free trade with external tariff walls

• Trade blocs

• United Nations

• Exchange Rates

• Protectionism

The increasing tendency for countries to trade with each other and to buy global goods

• Trading blocs

• Protectionism

• Globalisation

• Tariffs

Finding a way to succeed against rivals from overseas

• Protectionism

• Competing Internationally

• Imports

• Consumer expenditure

Free Trade

• Trade between countries with no barriers, e.g. no tariffs

• Trading products without making a charge for them

• Protectionism

• Trading with only limited amounts of regulation

Products made in this country but sold overseas

• Exports

• Imports

• Exchange Rates

• Price

The price of one currency measured in terms of another currency

• Import control

• Exchange rate

• Interest rates

• Imports