100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Summary FOUNDATIONS OF BUSINESS MANAGEMENT IN SOUTH AFRICA., ISBN: 9781473774957 Business Management 1A (BMA11A1) $4.43
Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of Johannesburg (UJ)
  4.  
  5. Business Management 1A (BMA11A1)

Summary

Summary FOUNDATIONS OF BUSINESS MANAGEMENT IN SOUTH AFRICA., ISBN: 9781473774957 Business Management 1A (BMA11A1)
 38 views  0 purchase
  • Course
  • Business Management 1A (BMA11A1)
  • Institution
  • University Of Johannesburg (UJ)
  • Book
  • FOUNDATIONS OF BUSINESS MANAGEMENT IN SOUTH AFRICA.

This document is a summary of Chapter 3: Going Global of the textbook FOUNDATIONS OF BUSINESS MANAGEMENT IN SOUTH AFRICA. The summary consists of detailed disadvantages and advantages, definitions and examples of every term affiliated with international trade.

Preview 2 out of 14  pages

Document information

  • No
  • Chapter 3
  • April 30, 2023
  • 14
  • 2022/2023
  • Summary

Subjects

  • international business
  • protective tariff
  • economic communities
  • absolute and comparative advantages

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

Written for

  • University of Johannesburg (UJ)
  • Business Management 1A (BMA11A1)
All documents for this subject (7)

Seller

avatar-seller
thabisofrancois

Content preview

BUSINESS MANAGEMENT 1A

CHAPTER 3: GOING GLOBAL

TEXTBOOK/SOURCE: Foundations of Business Management
in South Africa 1st Edition, US Authors: William M. Pride, Robert
J. Hughes, Jack R. Kapoor.

Adapters: Brownhilder N. Neneh



NOTES BY: Thabiso P. Kheo (Student at the University of
Johannesburg)

NOTE: The notes are a summarised version of the owner’s
understanding, and they may not be in the order of the
textbook.

, This chapter explores the following concepts.

An international business refers to all business activities that
involves exchanges across national boundaries.

We also come across two types of advantages namely the
absolute advantage and comparative advantage.



ABSOLUTE ADVANTAGE COMPARATIVE ADVANTAGE

The ability to produce a specific product The ability to produce a specific
more than any other nation. product more than any other

If both Country A and B produces product.
sugar, and coffee, and A produces If country A produces coffee
more sugar than B, A therefore has more than sugar it has a
an absolute advantage over B in comparative advantage of
producing sugar. If B produces producing coffee more than
more coffee than A, B therefore sugar.
has an absolute advantage over A
in producing coffee.



EXPORTING AND IMPORTING

Exporting: Selling and shipping raw materials to another
country/ countries. China exports its technological equipment
such as computers to other countries.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller thabisofrancois. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $4.43. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

50843 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$4.43
  • (0)
Add to cart
Added