Let’s talk about trade and commerce. (international business, export, import…profit, e-commerce, sanctions, revenue, economy) – Word association games are good to develop quick thinking and good lexical resource.
Why is it important for countries to trade goods and services with each other?
International trade is vital for the prosperity of most people as there are certain products which are produced in specific regions of the world, say bananas in Honduras; however, these products are favored elsewhere so they are exported, to say Canada, in order to fulfill the domestic needs there. In this way, people can enjoy a greater diversity of products and services while improving their economies and global relations.
Can you give some examples?
Certainly a couple of other cases that come to mind are India’s exports of customer service for large international corporations, like banks, because of the low wages and widespread use of English, or Uzbekistan’s export of cotton around the world for manufacturing fabrics.
*Pay attention whether the question is asking in singular or plural. If it is plural, be sure to give at least two items.
What are the advantages and disadvantages of importing products from other countries that are also available locally?
Hmm, that’s a good question, let me think on it for a moment. The benefits of importing products that are also made domestically is that this leads to greater competition, therefore lower prices and better quality for consumers, such as quality running shoes for under 20 dollars. However, the downside to this may be that local business are pushed out leading to unemployment and dept within the country.
If trading among nations were to suddenly stop, how would this affect people’s lives? Is this good or bad?
In a situation where all export and import of goods were to suddenly end, many people and countries would be in dire circumstance not only financially but also physically, as many nations like the UAE depend on trade for food sustenance. Without this, there would be famine. So, overall, this is definitely a negative. In fact, countries such as the US, impose sanctions, which is a ban on trade, as punishments for certain nations.
Let’s talk about product and service delivery.
What are the most common ways that products and services are delivered to customers?
The most frequent method of product delivery nowadays is either by mail, currier service or through retail outlets. A lot customers purchase products online, which are shipped by plane, train and automobile, and eventually placed at the doorstep of the client. In addition, people, of course, can still go to traditional brick and mortar shops to procure their needs.
Which is the best and why?
How will product and service delivery systems change in the future? How long will this take?
Why are multinational corporations always looking for different ways to deliver products?
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