Englisch II
Globalisation and economic policy
Globalisation and economic policy
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Flashcards
Fiscal policy
Fiscal policy refers to the government’s efforts to keep the economy stably by increasing or decreasing taxes and government spending.
Outsourcing
Outsourcing (also called ‘contract manufacturing’) happens when an international company uses a low-cost manufacturer in another country, and then sells the products under its own brand name in other markets.
Protectionism
Protectionism is the theory or practice of shielding a country's domestic industries from foreign competition by taxing imports.
Quota
Quota is a word for limits on the quantity of good that can be imported.
Red tape
Red tape is a less formal word for bureaucracy.
Slump
Slump is a synonym of depression.
Subsidy
Subsidy means money paid by a government to support it.
Subsidiary
Subsidiary happens when a company is owned by another company. ‘Foreign subsidiary’ comprises a parent company which directly owns a company in another country. Business operations are under control of local management, although Head Office is responsible for global strategy.
Strategic alliance
Strategic alliance is a long-term partnership between two companies of very different sizes, such as a large manufacturer and one of its suppliers. Unlike in a joint venture there is usually no sharing of cost, risks, management or profits.
Tariff
Tariff is a technical word for taxes on imported goods.
