2.1.3 Business and globalisation - Word Drop

Globalisation has increased trade between countries. ______ are goods and services bought from abroad, and they can increase ______ for domestic firms. ______ are goods and services produced in one country and sold ______, which can raise sales and revenue. Selling overseas may bring higher costs and language barriers.

A business may change ______ to move production to a cheaper country and then import goods back. A ______ owns or controls production in more than one country. It can increase ______, the money left after costs, by using cheap labour and raw materials and selling in wealthy markets.

Barriers to trade restrict the flow of international goods and services. A ______ is a tax on imports, which raises their price. A ______ is a group of countries that promotes trade between members and reduces imports from non-members.

The internet and ______ allow businesses to reach customers anywhere in the world. When competing internationally, a business may change elements such as price and promotion in its ______ to suit local markets. This can involve adapting the ______, such as packaging or size, to meet local tastes and legal requirements.