Globalisation

1. used to describe the practice of selling off excess production in a foreign market at an exceptionally low price, which destroys sales for local producers
4. moving business function to another country generally in order to lower costs
7. products and services that are produced domestically and consumed overseas
8. the trend towards closer ties between economies and businesses within the global economy
10. the term used to describe investment in long-term assets from roads to buildings
12. an attempt to provide a single measure of economic development encompassing income, education and health
13. a payment made by government to a business producing a certain product or located in a particular area that the government wishes to support

1. a tax imposed on an imported product to allow it to enter a country
2. a physical limit on the volume of a product tat can be imported in a year
3. refers to a nation whose trade policies are designed to put the interests of domestic businesses first by imposing trade barriers to hamper imports
5. products and services produced abroad and consumed domestically
6. giving preference to domestic producers by making it harder for foreign companies to export to your country
9. a group of countries that sign up to free trade between them, protected by a tariff wall against imports from outside
11. occurs when a business purchases non-current assets in another country