SOCI 1001 Study Guide - Comprehensive Final Exam Guide - Retina, Hormone, Heredity

• School: Carleton University
• Department: Sociology
• Course: SOCI 1001
• Professor: Guy Lacroix

Document Summary

International business: the exchange of goods and services between individuals, companies, multinational corporations and/ or international business companies among multiple companies. Business: an organization or economic system where goods and services are exchanged for one another or for money. there are millions of businesses worldwide. Exports: a function of international trade where goods produced in one country are sent to another to be sold or for trade. many countries export the goods that they specialize in. Balance of trade: the differe(cid:374)(cid:272)e (cid:271)et(cid:449)ee(cid:374) a (cid:272)ou(cid:374)tr(cid:455)"s i(cid:373)ports a(cid:374)d e(cid:454)ports (cid:271)et(cid:449)ee(cid:374) a gi(cid:448)en time period. the balance of trade of a company is defined by the volume of their exports and imports. Trade surplus: a(cid:374) e(cid:272)o(cid:374)o(cid:373)i(cid:272) (cid:373)easure of a positi(cid:448)e (cid:271)ala(cid:374)(cid:272)e of trade, (cid:449)here a (cid:272)ou(cid:374)tr(cid:455)"s e(cid:454)ports are more than the imports. Italy has a trade surplus because they export more than they import. Trade deficit: a(cid:374) e(cid:272)o(cid:374)o(cid:373)i(cid:272) (cid:373)easure of a (cid:374)egati(cid:448)e (cid:271)ala(cid:374)(cid:272)e of trade, (cid:449)here a (cid:272)ou(cid:374)tr(cid:455)"s i(cid:373)ports are greater than the exports.