MGTA01H3 Lecture Notes - North American Free Trade Agreement, Comparative Advantage, Absolute Advantage
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MGTA01H3 Full Course Notes
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Document Summary
Globalization is the integration of markets globally: canada is an open economy. open to the flow of goods and services across the border. International business: business activities that involve exchanges across national boundaries imports are products that are made or grown abroad and sold in canada. Products/services that we can"t make particularly quickly, cheaply, or well so we buy it from others (we get stuff made by folks who are good at it, they get canadian money) Exports are products made or grown in canada that are sold abroad. Products/services that we make in abundance quickly, cheaply, or well so others buy it from us (we get their money, they get stuff we"re good at making) Per capita income is the average income per person. North america free trade agreement (nafta) is an agreement between canada, usa and. Faster, cheaper, and easier to make some things here. Faster, cheaper, and easier buy other things from elsewhere.
