MGMT 100 Study Guide - Final Guide: International Monetary Fund, Devaluation, World Trade Organization
Document Summary
Lo1 describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade. Companies are continuously reviewing their global operations to ensure they"re turning a profit. The global market is truly dynamic, and progressive companies scan the business environment to ensure they take advantage of opportunities and eliminate threats. Exporting is the selling of products to another country: competition is very intense. Importing is the buying of products from another country. No country can produce all of the goods that their people want/need. Free trade is the movement of goods and services among nations without political or economic barriers. Lo2 explain the importance of importing and exporting and define key terms used in global business. Small businesses contribute the most amount of gdp and also account for 90% for. Canadian exports: small businesses have the chance, with the help of government agencies (foreign.
