BUS 201 Chapter Notes - Chapter 5: Canadian Dollar, Absolute Advantage, Developed Country
15 Aug 2016
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Lo 1 describe the growing complexity in the global business environment and identify the major world marketplaces. Globalization = process by which the world economy is becoming a single interdependent system. Import = prod made/grown abroad but sold domestically. Export = prod mad/grown domestically but shipped & sold abroad. International trade becoming increasingly central to fortunes of most nations & businesses. 3 major marketplaces: north america, europe, asia pacific. These incl more of upper-middle-income & high-income nations. Largest economies, biggest corps, influential financial markets, highest- income consumers. Us dominates n. am business region, largest marketplace, most stable economy in the world for decades. Lo 2 identify the evolving role of emerging markets and highlight the importance of the brics nations. Brics = brazil, russia, india, china, south africa; powerful emerging markets in business world. India: leading service provider (from customer service call centres to engineering solutions providers)
