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Business
Business(Foreign trade)
| Question | Answer |
|---|---|
| What are imports? | The purchase of goods and services by Irish people by foreign countries |
| What are exports? | The selling of Irish goods and services to other countries |
| What is foreign trade? | This involves people and businesses in different countries buying and selling goods and services |
| What is the balance of trade(BOT)? | The difference between the visible exports and the visible imports |
| What is the balance of payments? | The difference between all the money received by a country from the rest of the world and that paid to the rest of the world |
| What is the European Union(EU)? | A group of 27 countries that have come together to have free movement of goods,capital and people between member countries |
| What is exchange rate? | The cost of one currency in terms of another currency |
| Excluding Ireland give 3 examples of countries in the EU | Spain,France and Italy |
| Give three examples of countries not in the EU | Japan,Norway,USA |
Created by:
Chimozukee
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