What’s the difference between a wholesaler and a retailer? What’s bartering and what does it mean to ‘outsource’ something. You’ll learn about International business in this episode of Aprender Inglés con Reza y Craig.

Voice message from Fernanda from Uruguay
Congratulations on passing the CAE exam.

Voice message from Joao from Brazil

International Business

We spoke about the economy and how to discuss trends in English: https://inglespodcast.com/117

Domestic business vs international business

Economics (with “s”) – the study of the Economy
economic outlook – how the economy is expected to perform over a period of time in the future.
Economic – economical – economy – economically – to economize –
NB. economic (adj.) – related to economics V economical (adj.) – good value

consumer spending – the purchase of goods and services by consumers.

Manufacturers – companies that make goods for sale and sells to a distributor, wholesaler or retailer

Distribution – sending a supply of goods to companies that sell them to consumers.
To distribute – to give out (channels of dist ribution)

Wholesaler – a person or company that sells goods in large quantities at low prices, typically to retailers.

Retailers – companies that sell goods in small quantities directly to consumers

A startup – a new business venture that’s expected to grow very quickly. Often funded by venture capital.

Outsourcing – obtain (goods or a service) by contract from an outside supplier (eg. customer support, food and services in a hospital, audio editing/transcription of a podcast)

Multinational Corporation – A company that operates in two or more countries. (Coca Cola, Microsoft, Toyota)

Subsidiary (company) – a company owned or controlled by a Parent Company (the Disney Channel, which is wholly owned by The Disney Corporation ( Procter and Gamble: Crest, oral-B, Tide, Pampers, Always, Head & Shoulders, VIcks, Olay, Gillette etc..)

Cultural Literacy – Understanding and appreciating the similarities and differences of the world’s peoples. Interacting.

Intellectual Property – Owned ideas.

Subsidy, to subsidise – Government contribution that helps private industries.

Embargo, to put/place an embargo on – Formal trading strike.

Bartering – Trading one thing for another.

Trade Surplus – What a country has when it takes in more money selling products and services to other countries than they spend on buying them.

Trade Deficit – What a country has when it spends more on imports than exports.

Tax Evasion – using illegal means so as not to pay tax.

Tax Avoidance – using legal means to avoid paying tax. e.g. Creative Accounting

Make vs. Brand Name – A name, symbol, word, or design that identifies a product, service, or company.

Trademark – words, phrases, or symbols which represent a comp any or product. They distinguish the products or services of one company or organization from those its competitors. The following can all be trademarked:

Abbreviations: FTSE 100 “footsie 100” (index), BBC, IBM, BMW

Brand names: Apple, McDonald’s, and Dolce & Gabbana
Product names: iPhone and Big Mac

Company logos like the golden arches at McDonald’s and Nike’s tick, Mercedes etc.

Slogans: “Just Do It” and “I’m lovin’ it”

Words in a stylized font: “Coca-Cola” and “Ebay”

Colours: blue for Ford, Tiffany blue for Tiffany & Co. Post-it notes Canary yellow.

Product shapes like the Coca-Cola bottle and Apple iPod

Sounds: MGM Lion, Harley-Davidson engine.

Fictitious characters: the talking gecko at Geico and the Pink Panther

…and now it’s your turn to practise your English.
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Interview with Ryan Sink from businessenglishqanda.com

Interview with Paul Urwin from 100%businessenglish.com

Interview with Kieran

Speak English with Christina (on YouTube):

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