Supply Chain
What is the supply chain?
How a product gets from it's maker to you
Why does the global supply chain exist?
The global supply chain exists because some nations don't have the materials to produce the goods they want, so trade occurs.
Define a transnational corporation?
A corperation which operates in more than one country.
If there was a worldwide shortage of cotton, what would happen to the prices of clothes if demand stayed the same.
The prices of clothes would rise.
When deman is high and supply is low what happens to prices?
They rise
Where are raw materials (eg wood) collected?
From nature, farms, gardents etc
Is our school uniform an example of the global supply chain.
Yes, the material used to make the uniform is from a different country.
What kind of country would the head office of one of these corperations be in.
A developed country with lots of money.
What affect did COVID-19 have on businesses.
Different restrictions in different countries saw it difficult to produce and sell goods and services. Many businesses did not survive the COVID period.
Who is Australia's largest trading partner
China
Fill in the blank: Collecting materials, ________, storing the product, selling the product
Producing the product
How is Australia's partnership with China an example of the global supply chain.
Australia gives natural resources (like iron ore) to China, who produce goods and services.
Why would companies produce goods in a different country.
They can produce goods for cheaper, not pay workers as much, and prodcue in countries with less taxes.
Businesses who were rich enough to survive the pandemic. Saw less competition and could sell products at higher prices because demand for their business was high.
Businesses who use technology to their advantage save money how?
They don't have to pay employees for jobs that technology can do.
If the production of raw materials is limited, what affect will this have on the business?
The business won't be able to make as much of the product, which negatively impacts the business.
How do undeveloped countries benefit from the global supply chain.
Rich countries pay for their natural resources, which in return puts more money in the undeveloped countries economy.
Name a positive about transnational corporations
Creates jobs in poorer countries.
Brings more money and technology.
Products become more available and affordable.
Name a natural disaster which could pause the production of clothing
draught, makes it hard to grow the materials required to produce clothes.
What is Australia's main competetive advantage.
Large supply of important natural resources.
What will happen to a products prices if demand is high, but raw materials are limited.
The price of the product must increase.
Name three parts of an iphone sold in Australia which were made in different countries.
Sold- Australia
Designed- USA
Chips- Korea
Lithium- Chile
Shipping- International Ports
Stores
The UK's vote to leave the European Union in 2020 disrupted the supply chain how?
The European Union had it's own rules to international trade. Countries had to adapt to new rules on how shipping would occur with souly just Britain.
What is a very imprtant import or export that starts with T.
Tourism