COMMERCE 1E03 Chapter 3: Chapter 3 - 1E03 Slides
3 May 2017
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Document Summary
Describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade. Explain the importance of importing and exporting and define key terms used in global business. Illustrate the strategies used in reaching global markets and explain the role of multinational corporations in global markets. Evaluate the forces that affect trading in global markets. Debate the advantages and disadvantages of trade protectionism, define tariff and non-tariff barriers, and give examples of common markets. Discuss the changing landscape of the global market. The economic welfare of our nation is significantly affected by the degree to which those in other nations buy our products, invest in our country and lend us funds as we require them. When we sell products to other nations, jobs are created and incomes are earned. When investment comes to canada, businesses expand and improve, technology is developed and applied, and jobs can be created.
