Discussion:
Global Economics
Before making a decision about entering into the global market, business owner must famiriarize themselves with some macro- and microeconomics concepts:
• the world bank and IMF
• Imports and exports as part of GDP
• Multinational corporations
• Foreign direct investment and capital flows
• Foreign exchange market and exchange rates
• Labor theory of value
• Marginal rate of transaction
• Gains fron trade, comparative advantage
• Economics of scale
In a paragraph each, define these terms. Then discuss how these terms individually apply to both supply and demandmand to a business owner who is contemplating expaning internationally.