International Business Part I

BCS-BE-8: The student analyzes how international business impacts business.

The Global Economy

We live in a global economy fueled by ____________.

The _______ of the global economy is called globalization.

global economythe ______economies of the nations of the world

international tradethe ________ of goods and services between nations

The Global Economy

Sony is an example of a _______corporation.

multinational corporationa company that does ______ in many countries and has facilities and offices around the world

International Trade

Trade allows countries to meet their _______ wants and needs as well as to help their own __________.

tradea specific area of business or industry, a skilled _______, or the people who work in a specific area of business or industry

Figure 10.1 Major Imports and Exports of the United States

Managing and Leading Others

Leaders know their _________.

Leaders know the ____ of their employees.

Leaders can analyze current ________.

Leaders have _______ and can inspire others.

Leaders help a company run _________.

Managing and Leading Others

Some people who are _______ are not leaders.

They may focus on _______ tasks to make sure work gets done, but they may not be visionaries or ________ others.

Types of Trade

________ trade is the ______, purchase, and sale of goods and services within a country.

World trade is the ________ of goods and services across international boundaries.

Imports and Exports

One country’s _____ are another countries exports.

importsgoods and services that one _______buys from another country

exportsgoods and _______ that one country sells to another country

Balance of Trade

The United States has a ________balance of trade with Australia.

balance of tradethe difference in value between a _______imports and exports over a period of time

Graphic Organizer

Trade ________

A country exports more that it imports

Trade ________

A country imports more that it exports

Specialization

To ______ means to focus on a particular activity, area, or product.

Specialization ______and sustains a market economy.

Using Resources to Specialize

________ can specialize and trade some of the items that they produce in order to obtain other countries’ goods and _________.

Using Resources to Specialize

________ that specialize may have a comparative _________.

comparative advantagethe ability of a country or ________to produce a particular good more effectively than another country or company

Currency

To trade with another country, ________must _______their money into that nation’s currency.

Currency is ______on the foreign exchange market.

Currency

The exchange rate for ________ changes from day to day and from country to country.

exchange ratethe _______ at which one currency can buy another currency

Currency

Companies follow the exchange rates to find the best prices for ________.

A _______ with an appreciated exchange rate can buy more of another country’s products.