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Importing Goods.
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| Submitted: Mon Dec 01 2003
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Importing Goods A company is always looking to get the best value for money. When a business buys supplies from other businesses, it wants to buy at the lowest products. It also wants goods that are of the right quality and which can be delivered at the right time to satisfy the customers. Although a British company can provide these goods, a foreign company could offer the best value for money. Fit- for- Life will need to pay the foreign company upon receiving the delivery. This becomes an IMPORT for the UK. It is an imported good because a British company is buying a physical product from a foreign company. Exchange Rates A French business is likely to pay for its supplies in Euros, however a British business is likely to pay for its imports in pounds starling. The price of pounds for euros, the EXCHANGE RATE, is frequently changing. The changes can have a vital...
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