Discuss foreign exchange market and exchange rates


Discussion:

Before making a decision about entering into the global market, business owners must familiarize themselves with some macro- and microeconomic concepts:

• The World Bank and International Monetary Fund

• Imports and exports as part of Gross Domestic Product (GDP)

• Multinational corporations

• Foreign direct investment and capital flows

• Foreign exchange market and exchange rates

• Labor theory of value

• Marginal rate of transformation

• Gains from trade, comparative advantage

• Economies of scale

In a paragraph each, define these terms. Then, discuss how these terms individually apply to both supply and demand and to a business owner who is contemplating expanding internationally.

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Microeconomics: Discuss foreign exchange market and exchange rates
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