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Unit 2 International Business

Unit 2 International Business. Chapter 2 & 3. International Business. Why?? Benefits Negatives. Important Aspects to Foreign Trade. Imports/Exports Imports -items we bring in from another country Exports -items we make and sell to another country .

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Unit 2 International Business

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  1. Unit 2 International Business Chapter 2 & 3

  2. International Business • Why?? • Benefits • Negatives

  3. Important Aspects to Foreign Trade • Imports/Exports • Imports-items we bring in from another country • Exports-items we make and sell to another country. • Exchange rate-is the value of currency in one country compared with another country. • Barriers to trades • Embargos-when countries stop trade with another country • Tariffs-fees putonto goods to come into another country

  4. Reasons for International Business • Imports/Exports • Location • Economic Conditions • Political Climate • Cultural Influence

  5. Economic Indicators • GDP (Gross Domestic Product) Total $ value of all final goods and services • GDP per Capita = / GDP by total population

  6. Economic Indicators • Unemployment Rate-is the rate of the portion of people in the labor force who are wanting to work and cannot find work • CPI (Consumer Price Index) compares the prices in one year to the previous year or set point. • Labor Productivity quantity of a good that an average worker can produce in an hour.

  7. Economic Indicators • Price Levels • Inflation is a sustained increase in general level of prices. • Hyperinflation- a tremendous increase in prices. • Deflation is a decrease in general level of prices. • Poverty Level-the percentage of people in a country that are living below what is considered poverty. 

  8. Economic Cycles • Prosperity (Boom) peak of cycle-people are working at record #’s, GDP highest • Recession (Ripple) demand begins to decrease, production slows, unemployment rises and GDP slows

  9. Economic Cycles • Depression prolonged period of high unemployment, weak sale, increase of business failures, and GDP falls rapidly • Recovery unemployment begins to decrease, demand increases, and GDP begins to rise

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