Globalization and economic policy: Exercises Fill in the m issing letters

boom contraction depression downturn expansion growth recession rccijvcry slowdown slump upswing

1 ________recovery___/___ upswing ________________

2__________ growth / ______boom_________ / _____ expansion ___________

3 _____recession / __ contraction ____ / ____ downturn ___/ _ slowdown ___________

4 ___ depression ______/____ slump ___________

2.3 Make collocations using one item from each box. Then use the collocations to complete the sentences.

Competitive contractual deeper inword mobile trade trading

Advantage agreement communications investment Investment partners surplus

1. National governments encourage _ inword____investmen__because it brings benefits such as the creation of jobs, skills development and technology transfer.

2. Low labour and manufacturing costs are a major _Competitive __ Advantage _________in the global market

3. Import / export is low-risk, but has a low profit potential. If a company wants a __ deeper _ involvement __________ in the global market they will look at outsourcing.

4. Outsourcing involves a long term __ contractual __ agreement __________ with a low-cost provider of goods or services.

5 . _ mobile _ communications ____make it easy for managers to stay in touch with colleagues and Head Office.

6 If a country exports more to its ,______ trading _________ than it imports, it has a __ partners _______ (= positive balance of trade).

2.4 Match the com pany responses to globalization to their descriptions 1-7 below.