?
To export
The increasing dominance of the services sector in developed countries.
Tertiarization
__________ has become prevalent in countries with more people employed in service-based industries than in manufacturing or agriculture.
Tertiarization
A nation’s __________ can indicate whether it is importing more than it is exporting, which has implications for its overall economy.
Trade Balance
Taxes imposed by a government on goods imported from another country.
Tariffs
?
Services Sector
To send goods or services to another country for sale.
To export
Many young entrepreneurs are launching __________ in the tech industry, hoping to create innovative new products.
Startups
The government imposed higher __________ on imported goods to protect domestic manufacturers by way of taxes.
Tariffs
Many companies are considering __________ of their manufacturing processes to countries with lower labor costs.
Relocation
The activity of buying, selling, or exchanging goods and services.
Trade
A business that sells goods directly to consumers.
Retailer
A business that buys goods in large quantities and sells them to retailers rather than to individual consumers.
Wholesaler
The sector of the economy that provides intangible goods.
Services Sector
?
Touristification
The __________ is a critical part of the economy that is NOT focused on physical products.
Services Sector
Newly established businesses, often characterized by innovation and high growth potential.
Startups
The process by which an area or attraction becomes oriented towards tourism.
Touristification
?
Retailer
There is a great local demand ________ exotic fruit, as it does not naturally grow in our climate conditions.
To import
The practice of moving business processes or manufacturing to another location, often overseas, to reduce costs.
Relocation
To bring goods or services into a country from abroad for sale.
To import
?
Trade
The difference in value between a country's imports and exports of goods and services over a period.
Trade balance
The small business owner bought her goods from a ________ to sell them to her clients.
Wholesaler