International Business - answer-is any commercial transaction that crosses the borders of two or more nations
Imports - answer-Goods and services that are purchased abroad and brought into a country
Exports - answer-Goods and services sold abroad and sent out of a country
Key Players - ans...
IBus 380 WSU Exam 1 fully solve and updated
International Business - answer-is any commercial transaction that crosses the borders of two or more nations
Imports - answer-Goods and services that are purchased abroad and brought into a country
Exports - answer-Goods and services sold abroad and sent out of a country
Key Players - answer-Large companies from the wealthiest nations
Firms from emerging markets
Small and medium sized companies
Multinational corporations (MNCs)
Born global firms
Gross Domestic Product (GDP) - answer-Value of all goods and services produced by a domestic economy over a one-year period IBus 380 WSU Exam 1 fully solve and updated
Gross National Product (GNP) - answer-Value of all goods and services produced by a country's domestic and international activities
over a one-year period
GDP or GNP per capita - answer-Nation's GDP or GNP divided by its population
Globalization - answer-the trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies
_____________ is characterized by denationalization, and differs from internationalization
Denationalization - answer-national boundaries becoming less relevant
Internationalization - answer-Entities cooperate across national boundaries IBus 380 WSU Exam 1 fully solve and updated
Globalization of markets - answer-refers to the convergence in buyer preferences in markets around the world
Globalization of markets Benefits - answer-•Reduces marketing costs
•Creates new market opportunities
•Levels uneven income streams
•Local buyers' needs
•Global sustainability
Globalization of Production - answer-the spread of production activities to locations that help a company achieve its cost minimization or quality maximization objectives for a good or service
Globalization of Production Benefits - answer-•Access lower-cost workers
•Access technical expertise
•Access production inputs
Drivers of Globalization - answer-•Falling barriers to trade and investment
•Technological innovation
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