COMMERCE 4SA3 Chapter 1: Chapter 1.docx

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 4SA3
• Professor: sfs

Document Summary

Small business you may own one. Stay abreast of the latest business techniques & tools. Just-in-time (jit) systems: suppliers are expected to deliver necessary inputs just as they are needed. Exporting: the sellin products make in one"s own country for use or resale in other countries. Importing: the buying of products made in other countries for use or resale in one"s own country. Merchandise exports & imports: trade in goods tangible products such as clothing, computers & rm (visible trade) Service exports & imports: trade in services intangible products such as banking, travel & accounting (invisible trade) International investments: capital supplied by residents of one country to residents of another: foreign direct investments (fdi): investments made for the purpose of actively controlling property, assets or companies located in host countries. The country in which the parent company"s hq"s is located is called the home country; any other country in which the company operates is known as a host country)