Textbook Notes (359,220)
Canada (156,115)
MGTA01H3 (583)
Chapter 5

MGTA03 – Chapter 5

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University of Toronto Scarborough
Management (MGT)
Chris Bovaird

20091102 MGTA03 Chapter 5: International Business Prof. Chris Bovaird International Trade International Trade is defined as business activities that involve exchanges across national boundaries No country can make everything its citizens need quickly, inexpensively, and well (competitive adv.) Some countries are better equipped than other countries to make particular goods or services Its faster, cheaper, and easier to make some things here Its faster, cheaper, and easier to buy other things from elsewhere Some things you can make and other things you cant Importance of Trade to Canada th th Canada is the 7 largest importer and the 7 largest exporter its biggest customers and suppliers are members of the G8 (#1 U.S., #2 Japan, #3 UK) International trade makes up approximately 30% of Canadian GDP The North American Free Trade Agreement (NAFTA) Involves Canada, the United States of America, and Me
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