| A | B |
|---|
| Globalization | awareness, understanding, and response to global developments and linkages |
| Import-Export Trade | sale and purch of tangible goods/svcs to and from another country |
| Foreign Direct Investment (FDI) | establishment/expansion of ops of firm in foreign country |
| Multinational Corporations | Co.'s that invest in countries around the globe |
| Composition of Trade | ratio of primary commodities to manufactured goods/svcs in country's trade |
| Gross Domestic Product (GDP) | Total monetary value of goods produced and svcs provided by country over 1-yr period |
| Macroeconomic Level | trading relationships affect individual markets |
| Microeconomic Level | business concerns that affect individual firm or industry |
| Region with largest GDP | USA |
| Region with least GDP | South Asia |
| Primary types of international businesses | import-export trade and foreign direct investment; licensing, franchising, management contracts |
| Global Institutions | help manage, regulate, and police the global marketplace |
| Need for Global Trade 1 | good for job creation; bring in wide range of products/services to a country |
| Need for Global Trade 2 | domestic products to improve/expand consumer choices/improve std of living |
| Need for Global Trade 3 | allows for economies of scale/allows firms to hone competitive skills abroad |
