MGTA01H3 Chapter 5: MGTA03 – Chapter 5
14
MGTA01H3 Full Course Notes
Verified Note
14 documents
Document Summary
International trade is defined as business activities that involve exchanges across national boundaries . No country can make everything its citizens need quickly, inexpensively, and well (competitive adv. ) Some countries are better equipped than other countries to make particular goods or services. It"s faster, cheaper, and easier to make some things here. It"s faster, cheaper, and easier to buy other things from elsewhere. Some things you can make and other things you can"t. Canada is the 7th largest importer and the 7th largest exporter its biggest customers and suppliers are members of the g8 (#1 u. s. , #2 japan, #3 uk) International trade makes up approximately 30% of canadian gdp. Involves canada, the united states of america, and mexico (approx. must have no trade barriers or protection. Canada is open to trade, imports, exports, and the general flow of goods and services across the border.
