MGTA01H3 Chapter Notes - Chapter 5: U.S. Route 3, North American Free Trade Agreement, Protectionism
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MGTA01H3 Full Course Notes
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Document Summary
Chapter 5 the rise of international business. Globalization the integration of markets globally; refers to the process by which the world economy is fast and becoming a single interdependent entity. The rise of international business there are more and more business firms engaged in international business. The global economy is characterized by rapid growth in the exchange of information and trade in services. Major world marketplaces north america, western europe (dominated by germany, the uk, france, and italy), and asia-pacific (dominated by japan) Per capita income the average income per person of a country. High-income countries per capita income greater than us 065. Upper-middle income countries per capita income between us 255- 065. Low middle-income countries per capita income between us - 255. Low-income countries per capita income of less than us . Absolute advantage a nation"s ability to produce something more cheaply or better than any other country.
