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International Business Part I
BCS-BE-8: The student analyzes how international business impacts business.
The Global Economy
We live in a global economy fueled by ____________.
The _______ of the global economy is called globalization.
global economythe ______economies of the nations of the world
international tradethe ________ of goods and services between nations
The Global Economy
Sony is an example of a _______corporation.
multinational corporationa company that does ______ in many countries and has facilities and offices around the world
International Trade
Trade allows countries to meet their _______ wants and needs as well as to help their own __________.
tradea specific area of business or industry, a skilled _______, or the people who work in a specific area of business or industry
Figure 10.1 Major Imports and Exports of the United States
Managing and Leading Others
Leaders know their _________.
Leaders know the ____ of their employees.
Leaders can analyze current ________.
Leaders have _______ and can inspire others.
Leaders help a company run _________.
Managing and Leading Others
Some people who are _______ are not leaders.
They may focus on _______ tasks to make sure work gets done, but they may not be visionaries or ________ others.
Types of Trade
________ trade is the ______, purchase, and sale of goods and services within a country.
World trade is the ________ of goods and services across international boundaries.
Imports and Exports
One country’s _____ are another countries exports.
importsgoods and services that one _______buys from another country
exportsgoods and _______ that one country sells to another country
Balance of Trade
The United States has a ________balance of trade with Australia.
balance of tradethe difference in value between a _______imports and exports over a period of time
Graphic Organizer
Trade ________
A country exports more that it imports
Trade ________
A country imports more that it exports
Specialization
To ______ means to focus on a particular activity, area, or product.
Specialization ______and sustains a market economy.
Using Resources to Specialize
________ can specialize and trade some of the items that they produce in order to obtain other countries’ goods and _________.
Using Resources to Specialize
________ that specialize may have a comparative _________.
comparative advantagethe ability of a country or ________to produce a particular good more effectively than another country or company
Currency
To trade with another country, ________must _______their money into that nation’s currency.
Currency is ______on the foreign exchange market.
Currency
The exchange rate for ________ changes from day to day and from country to country.
exchange ratethe _______ at which one currency can buy another currency
Currency
Companies follow the exchange rates to find the best prices for ________.
A _______ with an appreciated exchange rate can buy more of another country’s products.
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