Questions and Answers
Which of the following best defines international business?
Commercial transactions between two or more countries
What is the approximate value of goods sold across national borders every year?
Over $24 trillion
Which of the following is a trend associated with globalization?
A move towards a more integrated global economic system
In which of the following can the effects of globalization be seen?
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What is the approximate value of foreign exchange transactions taking place everyday?
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Study Notes
International Business
- International business refers to the exchange of goods, services, or something of value between businesses or organizations across national borders.
Global Trade
- The approximate value of goods sold across national borders every year is over $22 trillion.
Trends of Globalization
- One trend associated with globalization is the increasing integration and interdependence of economies around the world.
Effects of Globalization
- The effects of globalization can be seen in the growing interdependence of economies, societies, and cultures worldwide.
- The effects of globalization can also be seen in the increasing flow of goods, services, and ideas across national borders.
Foreign Exchange Transactions
- The approximate value of foreign exchange transactions taking place every day is over $6 trillion.
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