Textbook Notes (368,449)
Canada (161,886)
Commerce (1,696)
sfs (9)
Chapter 1

Chapter 1.pdf

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Department
Commerce
Course
COMMERCE 4SA3
Professor
sfs
Semester
Summer

Description
Chapter 1 An Overview of International BusinessInternational Business consists of business transactions between parties from more than one countryparties involved in such transactions may includeprivate individuals individual companiesgroups of companiesgovernment agencies domestic business transactions occurring within the boundaries of a single countryinternational business can differ from domestic inuse of different currencieslegal systems of the countries may differcultures of the countries may differavailability of resources may differ by country eg skilled labour natural resourcesbasic knowledge and skill for domestic and international business are conceptually samethe complexity to take part in international business is far greater than that of domesticis the selling of products made in ones own country for use or resale in Exportingother countries is the buying of products made in other countries for use or resale in ones Importingown countryMerchandise exports and imports trade in goodstangible products Service exports and imports trade in service intangible productsInternational Investments is capital supplied by residents of one
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