Assignment: International Trade
This assignment will assess the competency 2. Explore global business.
Directions:
Companies that are involved in international trade have to be mindful of the foreign exchange rates of currency. The exchange rate is how much one countries currency can buy of another countries currency. Sometimes 1 US Dollar can purchase more or less of another countries currency. Imagine you are a business owner and want to expand your business into the Japanese market. Use the research you accomplished in the learning activity and your textbook to answer the following questions.
- Explain what importing and exporting is.
- Explain how many Yen does one US dollar buy as of the day of your assignment?
- Over the past year is the dollar growing stronger (buy more Yen per Dollar) or is it growing weaker (buy fewer Yen per Dollar)?
- Explain if you were a US exporter selling your products to Japan, how would the prices of your products to your Japanese customers be affected when the Dollar was stronger than the Yen? And how would prices be affected when the Yen was stronger than the Dollar?
Provide your report in a word document with standard formatting either single or double spaced in 12 point Times New Roman font. Use proper spelling, grammar, and punctuation. Your report should be between 150 and 1000 words long, longer reports will be accepted so feel free to go over the minimum.