IB 201 Study Guide - Midterm Guide: Labour Market Flexibility, International Monetary Fund, Disaster Recovery Plan

• School: Quinnipiac University
• Department: International Business
• Course: IB 201
• Professor: Engle

Document Summary

International business commercial transaction that crosses the borders of two or more nations. Imports goods and services purchased abroad and brought into a country. Exports goods and services sold abroad and sent out of a country. In this current age of globalization, companies are exporting earlier and growing faster, often with help from technology. Trade balance (cid:272)al(cid:272)ulatio(cid:374) of a (cid:272)ou(cid:374)t(cid:396)(cid:455)(cid:859)s e(cid:454)po(cid:396)ts (cid:373)i(cid:374)us its i(cid:373)po(cid:396)ts: aka balance of trade(bot) Current account balance (cid:272)o(cid:373)pa(cid:396)es a (cid:272)ou(cid:374)t(cid:396)(cid:455)(cid:859)s (cid:374)et t(cid:396)ade i(cid:374) goods a(cid:374)d se(cid:396)(cid:448)i(cid:272)es + (cid:374)et ea(cid:396)(cid:374)i(cid:374)gs, a(cid:374)d (cid:374)et t(cid:396)a(cid:374)sfe(cid:396) payments to and from the rest of the world during the period specified: diffe(cid:396)e(cid:374)(cid:272)e (cid:271)et(cid:449)ee(cid:374) a (cid:374)atio(cid:374)(cid:859)s sa(cid:448)i(cid:374)gs a(cid:374)d its i(cid:374)(cid:448)est(cid:373)e(cid:374)t. The 3 vs of globalization: volume, velocity, visibility. Multinational corporation(mnc) business that has direct investments abroad in multiple countries. Generate significant jobs, investment, and tax revenue, for the regions and nations they enter. Can leave thousands of people out of work when they close or scale back operations.