International Trade and Business Growth
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Last updated 11:55 AM on 3/21/25
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8 Terms
1
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What is exporting?
Selling products out of the country
2
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What is importing?
Buying products from other countries
3
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What is division of labour?
Giving each worker a task so that they become specialised
4
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What are the advantages of specialisation?
Quality
Efficient
5
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What is specialisation?
Expertise on a task/subject
6
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What is FDI?
Cross-border investments
7
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Does FDI result in shares?
If the purchase leads to the investor controlling more than 10% of the company
8
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What are the benefits of FDI?
Growth
Resources
Job opportunities
Access to new markets and partners
Flashcards (52)