MGTA01H3 Chapter 5: Chapter 5 Notes.docx
14
MGTA01H3 Full Course Notes
Verified Note
14 documents
Document Summary
International business: business activities that involve exchanges across national boundaries. The world economy is fast becoming a single interdependent system. Imports: products that are made or grown abroad and sold in canada. Exports: products made or grown in canada that are sold abroad. Open economy: open to trade & open to the flow of goods and services across borders. Several forces have combined to spark and sustain globalization. Governments and businesses have become more aware of the benefits of globalization. New technologies make international travel, communication, and commerce increasingly easier, cheaper, and faster. Competitive pressures: sometimes a firm must enter foreign markets just to keep up with its competitors. Per capita income: the average income per person in a country. The world bank, an agency of the united nations, uses per capita income as a measure to divide countries into one of four groups: High-income countries are those with per capita income greater than ,065.
