TAILIEUCHUNG - Lecture Business: A changing world - Chapter 4: Business in a borderless world

In this chapter, we explore business in this exciting global marketplace. First, we look at the nature of international business, including barriers and promoters of trade across international boundaries. Next, we consider the levels of organizational involvement in international business. Finally, we briefl y discuss strategies for trading across national borders. | Chapter Four Business in a Borderless World International Business Refers to the buying, selling, and trading of goods and services across national boundaries 4-1 Absolute Advantage Absolute advantage exists when a country is the only source of an item, the only producer of an item, or the most efficient producer of an item. Example: DeBeers Consolidated Mines, Ltd. (virtually controls the world’s diamond trade). 4-2 Comparative Advantage Comparative advantage occurs when a country specializes in products that it can supply more efficiently or at a lower cost than it can produce other items. Example: the . agricultural commodities, such as corn and wheat, Canadian automotive products 4-3 Where Canadian Exports Went in 2000 4-4 Source: Statistics Canada and US Census Bureau, , June 4, 2001 Top 5 Countries Canada Traded with in 2000 Exports Imports Trade Balance United States $359B $229B $130B Surplus Japan $ $ $ Deficit United Kingdom $ .

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• Lecture Business
• Human resource advantage
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• Introduction to business
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