Being globally minded
Concepts
Economy
An economy is the large set of interrelated production and consumption activities that aid in determining how scarce resources are allocated.
In an economy the production and consumption of goods and services are used to fulfill the needs of those living and operating within it.
When people favour tax cuts to stimulate the economy.
Trade
This is the action of buying and selling goods and services and is also known as exchanging something for something else or to give and receive.
Trading doesn't only benefit you but it benefits the other person you are trading with.
An example of trade would have to be when you exchange food with somebody else to benefit the both of you.
Globalisation
businesses or other organizations develop international influence or start operating on an international scale. Globalization is growing interdependence of the world's economies, cultures, and populations. Brought about by cross border trade in goods and services.
Fearing about the globalisation of the world economy increasing.
NZ Export Product
In term 4 we studied a NZ Export product, the product in which I chose to research about was alcohol and the NZ company I studied was Liquorland. I found out how much the shipping costs were from one country to another, the retail price for the products in different countries and Japan has the most expensive alcohol in the world. To date there are 300+ Liquorland stores in NZ.
