Post by Admin on Jun 19, 2016 11:36:58 GMT
Imports and Exports
• Foreign trade is the sale of products and services from one country to another.
• Importing is the purchase of goods and services from other countries for sale in Ireland.
• Exporting is when Irish goods and services are sold to other countries.
Invisible and Visible Trade
• Visible trade is the import or export of physical goods.
• Invisible trade is the import or export of services.
Reasons for Importing Goods
• Ireland does not have natural resources that are necessary for everyday living.
• Ireland’s climate is not suitable for growing certain products.
• Skills and traditions that are needed to produce some goods are only available in certain countries.
• Certain goods are not produced in Ireland, so if we want to have them, we must import them,
Reasons for Exporting Goods
• Some courtiers are not able to produce large quantities of food products because their land or climate is unsuitable.
• Some goods can only be manufactured in a certain country because the skills and traditions are only available here.
• Countries do this to increase their sales and profits.
The Balance of Trade
• The balance of trade is the difference between the visible exports and the visible imports of a country.
• The formula is: Visible exports – visible imports.
The Balance of Payments
• The balance of payments is the difference between the total exports and the total imports of a country.
• The formula is: Visible exports + invisible exports; visible imports + invisible imports; total exports – total imports.
Exchange Rate
• An exchange rate is the quantity of a foreign currency that can be bought or sold for one euro.
• Foreign currencies can be bought or sold in banks.
Import Substitution
• Trying to reduce imports by encouraging Irish people and firms to buy Irish goods instead of imported goods.
The European Union
• Ireland joined the EU in 1973.
• There were 9 countries in it at that time.
• Today there are 28 members.
• The business of the EU is carried out by EU and the European Commission.
• Croatia is the newest member.
Benefits of EU Membership
• Irish firms can sell their products/services in a huge market and this has increased their sales and profits.
• Irish people are allowed to live or work in any of the other member states.
• Ireland has received large amounts of money in the form of grants from the EU.
• Many firms have located in Ireland because we are a member of the EU.
Enterprise Ireland
• Enterprise Ireland is the state agency that offers advice, information and support to firms that are or wish to get involved in foreign trade.
• Foreign trade is the sale of products and services from one country to another.
• Importing is the purchase of goods and services from other countries for sale in Ireland.
• Exporting is when Irish goods and services are sold to other countries.
Invisible and Visible Trade
• Visible trade is the import or export of physical goods.
• Invisible trade is the import or export of services.
Reasons for Importing Goods
• Ireland does not have natural resources that are necessary for everyday living.
• Ireland’s climate is not suitable for growing certain products.
• Skills and traditions that are needed to produce some goods are only available in certain countries.
• Certain goods are not produced in Ireland, so if we want to have them, we must import them,
Reasons for Exporting Goods
• Some courtiers are not able to produce large quantities of food products because their land or climate is unsuitable.
• Some goods can only be manufactured in a certain country because the skills and traditions are only available here.
• Countries do this to increase their sales and profits.
The Balance of Trade
• The balance of trade is the difference between the visible exports and the visible imports of a country.
• The formula is: Visible exports – visible imports.
The Balance of Payments
• The balance of payments is the difference between the total exports and the total imports of a country.
• The formula is: Visible exports + invisible exports; visible imports + invisible imports; total exports – total imports.
Exchange Rate
• An exchange rate is the quantity of a foreign currency that can be bought or sold for one euro.
• Foreign currencies can be bought or sold in banks.
Import Substitution
• Trying to reduce imports by encouraging Irish people and firms to buy Irish goods instead of imported goods.
The European Union
• Ireland joined the EU in 1973.
• There were 9 countries in it at that time.
• Today there are 28 members.
• The business of the EU is carried out by EU and the European Commission.
• Croatia is the newest member.
Benefits of EU Membership
• Irish firms can sell their products/services in a huge market and this has increased their sales and profits.
• Irish people are allowed to live or work in any of the other member states.
• Ireland has received large amounts of money in the form of grants from the EU.
• Many firms have located in Ireland because we are a member of the EU.
Enterprise Ireland
• Enterprise Ireland is the state agency that offers advice, information and support to firms that are or wish to get involved in foreign trade.