MKT 3000 Chapter Notes - Chapter 8: Gross Domestic Product, Gross National Income, Foreign Exchange Controls
Document Summary
Globalization refers to the processes by which goods, services, capital, people, information, and ideas flow across national borders. Increasing globalization affects not only massive u. s. corporations that actively search out new markets but also small and medium-sized businesses that increasingly depend on goods produced globally to deliver their products and services. Assessing global markets we examine four sets of criteria necessary to assess a country"s market: The greater the wealth of people in a country, generally, the better the opportunity a firm will have in that particular country. One metric is the relative level of imports and exports. The united states, for example, suffers a trade deficit, which means that the country imports more goods than it exports. Gross domestic product (gdp), the most widely used of these metrics, is defined as the market value of the goods and services produced by a country in a year.
