Trade Resources and Economic Power
Open a theme, then select a word or phrase for its meaning, example and pronunciation.
1. Trade relationships (20 entries)
- trade surplus
- bilateral trade
- trade balance
- tariff
- trade deficit
- customs union
- diversify exports
- trading bloc
- comparative advantage
- protectionism
- quota
- tangy
- silky
- nutty
- buttery richness
- citrusy
- savoury depth
- peppery
- tart
- chalky
2. Supply chains (20 entries)
- reroute shipments
- inventory
- warehouse
- diversify suppliers
- contingency stock
- maintain continuity
- sourcing strategy
- lead time
- distribution hub
- traceability
- procurement
- bulky
- dependency chain
- bind together
- processing
- unload
- solder
- rivet
- weld
- rancid
3. Resources and dependence (20 entries)
- resource dependence
- substitution
- resource scarcity
- import dependence
- commodity price
- self-sufficiency
- concentration risk
- strategic reserve
- critical mineral
- extraction cost
- energy security
- brittle
- corrosion
- resilient
- tarnish
- conductive
- supple
- pitted
- glazed
- crumbly
4. Competition and bargaining (20 entries)
- negotiating leverage
- secure a concession
- dictate terms
- bargaining position
- buyer power
- maintain competition
- exert pressure
- market concentration
- dominant supplier
- economies of scale
- exclusive contract
- switching cost
- entry barrier
- unequal bargaining power
- entrench an advantage
- split the difference
- where practicable
- waive a fee
- drive a hard bargain
- seam
5. Global economic pressures (20 entries)
- geopolitical risk
- exposure
- price volatility
- sanctions
- absorb a shock
- diversify markets
- exchange-rate movement
- currency appreciation
- weather a downturn
- cost inflation
- capital flow
- financial shock
- currency depreciation
- hedge against risk
- fragile equilibrium
- stress scenario
- carrying capacity
- bow under pressure
- keep within bounds
- momentum