What is International Trade
"international trade" is.
What is a two-way exchange of goods and/or services between countries?
The name of a world event that would have skewed countries trade and thus impacted the measurement of international trade.
What is Covid-19?
A reason why a business in Australia can benefit being supplied from a business in China.
What is access to lower labor costs?
The first stage of the business cycle.
What is expansion?
The country that gave the US the statue of Liberty.
What is France?
The reason we trade.
What is accessing resources not readily available domestically?
Measurement tool of Australia's International trade.
What is Balance on Goods and Services (BOGS)?
The benefits of International trade for a developing nation.
What is improving living standards by providing jobs which can address issues such as food insecurity?
This is used to measure economic growth.
What is real Gross Domestic Product (GDP)?
The amount of flavours in a fruit loop box?
What is one flavour?
Two main exports of Australia.
What is iron ore, coal, and natural gas.
The formula for calculating a countries surplus or deficit.
What is exports minus imports?
The way a small business benefit from international trade.
what is gain access to broader markets, enabling them to grow beyond domestic demand?
The business cycle stage categorised by a period of increased commercial activity within either a business, market, industry, or economy as a whole.
What is a peak (or boom)?
The last World Cup football winner.
Two of the largest imports for Australia.
What is motor vehicles, petrol, personal travel service?
The amount of times in a year the Balance of trade is calculated.
What is 4 times a year?
Potential benefits for Australia interacting in international trade.
What is increase employment, income and investment?
Two factors that may affect the level of aggregate supply and the level of economic activity.
What is....
-the quantity/volume and quality/efficiency of labor resources available (e.g. affected by immigration, birth rate, education, and skills)
·the quantity/volume and quality/efficiency of capital resources available (e.g. affected by level of investment, interest rates, tax rates, and R&D)
·the quantity/volume and quality/efficiency of natural resources available (e.g. affected by mineral exploration, land management, climate change and severe weather events)
·the level of production costs for producers and after-tax profits (e.g. affected by wage rates, labor productivity, company tax rates, adequacy of government infrastructure, and education/training).
The year the very first IPhone released to the public.
What is 2007?
The definition of international competitiveness.
What is when a business or country can produce and sell its goods and services profitably at prices that are lower than those for similar goods or services made abroad.
A country with exports in the following industries of meat, coal and wheat add up to $750 million. The same country has imports consisting of electronics, motor vehicles and clothing add up to $800 million. The total surplus of deficit amounts to what.
What is a deficit of $50 million?
A benefit of international trade regarding price of products for consumers.
What is making international markets more competitive meaning nations and businesses must compete on price which can benefit consumers?
The name of the sector that allows for cash flow via lending services.
What is the financial sector?
The second most common language spoken in the world.
What is Mandarin?