lunes, 9 de junio de 2014

Glossary unit 9

-Freight: goods or produce transported by ship, aircraft, train, lorry or van.

-Capital flows: the money that is moved around the world

-Exports: goods or services that are sold outside the country where they are produced.

-Imports: goods or services that are brought into a country from abroad for sale.

-Balance of trade: the difference between the monetary value of the exports and the imports of a country.

-Balance of payments: all monetary transactions between a country and the world


-Retail: a type of trade in which businesses sell small quantities of goods directly to consumers.


-Wholesale: trade in which buyers purchase large quantities of goods and sell them, in smaller quantities, to other companies.


-Trade bloc: a group of countries that join together to form an area with special trade regulations.


-Transport network: the connection of road, railway lines, ports or airports that facilitate the transport of goods and/or people.


-Market: the meeting of buyers and sellers of goods and services. It can be tangible or abstract and it decides the prices of goods and services

-Infrastructure: the basic physical and organizational structures needed for an economy to function.

-Trade: the buying and selling of goods to meet the needs of the population.


-Bartering: the first way of trading in history


-Tourism: a sector dedicated to travel for recreational, leisure or business purposes.


-Information society: society in which revolutionary advances an IT dominate the economy


-Public services: cover basic need of population


-Private services: offer personalised services to companies

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