Easy
The action of buying and selling goods and services
What is trade
TRUE or FALSE:
GDP measures the monetary value of all final goods and services produced inside a country during a set period.
TRUE
An example of a good could be...
Any tangible/physical product example
A process where trade, migration and communication that used to be on a local or national scale move to include the whole world.
What is globalisation.
Solar power is an example of this type of resouce
What is a renewable resource.
TRUE or FALSE:
GNI measures how much a country produces within a year.
FALSE
GNI measures the total amount of money a country's population earns in a year (including income from overseas residents).
A commodity is what?
What is any raw material that can be exchanged e.g. oil, wheat etc.
Define a tariff
What is a tax that governments place on goods coming into their country.
The system that begins with raw materials/components, the distribution of the product and ending with consumers.
What is a supply chain.
Give an example of a TNC
Any global company with headquarters in more than one country: McDonald's, Nike, Apple, Coca-Cola, Toyota