Advanced Business Vocabulary

1. ______ occurs when companies move production or services to countries where labour costs are lower.

    Outsourcing

    Innovation

    Cultural exchange

2. ______ refers to the taxes placed on imported goods.

    Free trade

    Cultural exchange

    Tariffs

3. ______ allows businesses to access a wider range of customers and resources.

    Globalisation

    Localisation

    Outsourcing

4. Businesses are affected by ______, which are agreements between countries to allow easier trade.

    Tariffs

    Trade agreements

    Cultural exchange

5. ______ is the movement of goods and services without barriers like tariffs or quotas.

    Outsourcing

    Globalisation

    Free trade

6. An international ______ allows businesses to deliver products across borders.

    market

    supply chain

    tariff

7. One positive outcome of globalisation is increased ______ between countries.

    cultural exchange

    localisation

    outsourcing

8. Companies often rely on ______ to manage global operations more efficiently.

    innovation

    outsourcing

    trade agreements