16 Questions
What is the main benefit of globalization?
Promoting economic growth and welfare
What do international business activities involve?
Exchange of goods, services, or resources across national borders
What does international trade refer to?
Importing goods from foreign countries
What does 'import' mean in the context of international trade?
Buying foreign products and shipping them to the home country
What is a disadvantage of globalization?
Increase in the exploitation of workers in less developed countries
How does international trade contribute to the global economy?
By fostering economic interdependence and allowing nations to benefit from comparative advantages
What does export refer to in the context of international business?
Selling domestic products to foreign importers
What is a proactive motive for engaging in international business?
Anticipating foreign market opportunities
What is the main goal of internationalization in business?
To operate on a global scale
What does trade policy encompass?
All measures a government can take to control foreign trade
What is a reactive motive for entering the international market?
Competitive pressure on the domestic market
What does 'export' offer in terms of disadvantages?
Regulatory compliance challenges
What are the motives for international business that stem from external influences or threats?
Competitive pressure and small/saturated home markets
What is the primary goal of proactive motives for engaging in international business?
Profit and growth goals
What does 'internationalization' involve in terms of business operations?
Strategically expanding activities across national borders
What does 'trade policy' aim to influence?
The flow of goods and services across borders
Learn about the advantages and disadvantages of globalization, including the promotion of economic growth, spread of technological knowledge, cultural integration, as well as the risks associated with wage determination, worker exploitation, and the power of multinational corporations. Explore the concept of international business and its commercial activities.
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