The impact of globalisation on businesses

What does globalisation mean in the context of business?

• Globalisation means a business operating within its local area

• Globalisation means a business operating internationally or on a global scale

• Globalisation means a business buying goods from one overseas country

What is a tariff?

• A tax charged on a person’s income

• A tax charged on goods and services leaving a country

• A tax charged on goods and services coming into a country

What does international trade mean?

• The process of buying from or selling to any foreign country

• The process of buying from a different part of a country

• The process of a business in England selling to a customer in Scotland or Wales

What is the abbreviation for a multinational company?

• MNC

• LTD

• PLC

What is the EU?

• The European Union (EU) is a group of 27 countries that have an agreement in place just for political reasons.

• The European Union (EU) is a group of 27 countries that have an agreement in place for political and economic purposes.

• The European Union (EU) is a group of businesses that operate in a number of different countries.

What is the difference between an import and an export?

• An import comes into a country and an export leaves a country

• An import leaves a country and an export comes into a country

• An import comes from the same area of a country and an export comes from a different part of the country

What does SPICED stand for?

• Strong Pound makes Imports Cheaper but Exports Dearer

• Strong Pound makes Income Cheaper and Exports Dearer

• Weak Pound makes Income Dearer but Exports Cheaper

What does the free movement of labour mean?

• Businesses are able to hire employees in other countries

• People are able to freely move to live and work in another country

• Businesses are able to buy and sell products to and from other countries

What is an advantage to international trade?

• Language barriers

• Currencies

• Spreading risk

What is a disadvantage of multinationals setting up in the UK?

• Creation of more jobs

• Exploitation of labour

• Increased consumer choice