Edexcel A level Business with complect solution

GDP (Gross domestic product) The total value of goods and services produced by a particular country, over a year. Emerging Market A country with rapid economic growth. Multinational A business with its head quarters in one country and based in other countries. Merger Where two companies agree they should join together in to one business. Monetary policy Policy that controls the interest rates. Fiscal policy Government policy that sets tax rates and government spending. Monopoly Where one firm firm controls most or all of the market. Outsourcing When a firm has its activities carried out abroad. Opportunity cost The idea that money or time spend doing something is likely to mean missing out on doing something else. Protectionism When a country tries to protects its own companies by making it harder for foreign companies to trade. Specialisation One country is better at producing a product or service. Workers become experts at their given job. Subsidy Money paid by the government to certain industries to keep the costs of production down. Takeover Where one firms buys 50% of the shares of another firm, giving them the controlling interest. Tariff Tax paid on imported goods. Trade barrier Tariffs or quotas that make it more difficult for foreign goods to enter a country. Trading bloc A group of countries that trade freely with each other. Trade unions Groups that act on behalf of employees in negotiations. Inflation ...