AFM131 Study Guide - Midterm Guide: Canadian Confederation, Mixed Economy, Financial Accounting

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: Robert Sproule

Document Summary

Major canadian companies cite global expansion as a link to its future growth. Less than 74% of the world"s population lives in developing areas where technology, education, and per capita income still lags behind developed nations (ex. Exporting selling goods and services to another country. Importing buying goods and services from another country. No country can produce all of the products that its people want and need. Global trade enables a nation to produce what is most capable of producing and to buy what it needs from others in a mutually beneficial exchange relationship. Free trade movement of goods and services among nations without political or economic obstruction. Global trade is the exchange of goods and services across national borders. Comparative advantage theory a country should sell to other countries those products that it produces most effectively and efficiently, and buy from countries those products that it cannot produce as effectively or efficiently.