Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is the primary characteristic of an international business?
What is the primary characteristic of an international business?
- It involves the production or distribution of goods or services across national borders. (correct)
- It requires the establishment of physical offices in multiple countries.
- It must be a multinational corporation with operations in at least three countries.
- It focuses solely on the import and export of goods, not services.
Which of the following best describes the concept of globalization?
Which of the following best describes the concept of globalization?
- The merger of multiple national economies into a single global economy.
- The establishment of international standards for products and services.
- The process of expanding a business to operate in multiple countries.
- The development of an integrated global economy marked by free trade, free flow of capital, and the utilization of foreign labor markets. (correct)
What is the primary purpose of a business?
What is the primary purpose of a business?
- To contribute to the economic growth of a nation or region.
- To generate profit or income for its owners or shareholders. (correct)
- To promote social and environmental responsibility.
- To provide employment opportunities for the local community.
Which of the following best defines the term "trade"?
Which of the following best defines the term "trade"?
Signup and view all the answers
What is the role of a businessman in a business?
What is the role of a businessman in a business?
Signup and view all the answers
