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Intro to Business Chapter 3 Business in the Global Economy

Intro to Business Chapter 3 Business in the Global Economy. 3-1 International Business Basics 3-2 The Global Marketplace 3-3 International Business Organizations. 3-1 International Business Basics. Trade Among Nations Domestic Business – International Business –

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Intro to Business Chapter 3 Business in the Global Economy

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  1. Intro to BusinessChapter 3Business in the Global Economy 3-1 International Business Basics 3-2 The Global Marketplace 3-3 International Business Organizations

  2. 3-1 International Business Basics • Trade Among Nations • Domestic Business – • International Business – • Countries are ____________ and so are their economies.

  3. 3-1 International Business Basics • Trade Principles • Absolute Advantage – • Comparative Advantage -

  4. 3-1 International Business Basics • Trade Principles • Imports – • Exports – • Balance of Trade – the difference between a country’s total exports and imports. • Exports > Imports = • Imports > Exports =

  5. 3-1 International Business Basics • Trade Principles • Money goes from country to country through __________ and _________. • Balance of Payments • Favorable – receive more money than is paid out • Unfavorable – sending more money out than it brings in

  6. 3-1 International Business Basics • International Currency • Exchange Rate – • Factors affecting value • Balance of Payments • Economic Conditions • Political Stability

  7. 3-2 The Global Marketplace

  8. 3-2 The Global Marketplace • International Trade Barriers • Quotas – • Tariff – • Embargo –

  9. 3-2 The Global Marketplace • Encouraging International Trade • Free-Trade Zones – a selected area where products can be imported duty-free and then stored, assembled, and/or used in manufacturing; often a seaport or airport • Free-Trade Agreement – member countries agree to remove all duties (import taxes) and trade barriers on products traded among them. (Ex: NAFTA) • Common Market – members do away with duties and other trade barriers ; also called an economic community (Ex: European Union, Latin America Integration Association)

  10. 3-3 International Business Organizations • Multinational Company (MNC) – an organization that does business in several countries; parent companyin ________countryand separate divisions in _____country • MNC Strategies • Global Strategy – • Multinational Strategy –

  11. 3-3 International Business Organizations • Entering a Global Market • Licensing – • Franchising – • Joint Venture –

  12. 3-3 International Business Organizations • International Trade Organizations • World Trade Organization (WTO) • Settles trade disputes and enforces free-trade agreements • International Monetary Fund (IMF) • Promotes economic cooperation • Monitors exchange rates • World Bank • Gives economic aid to less developed countries

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