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NVCC International Business 280 Exam 1 Review Questions & Answers 2024
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NVCC International Business 280 Exam 1 Review Questions & Answers 2024
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NVCC International Business 280 Exam1 Review Questions & Answers 2024
International Business - ANSWERSAny commercial transaction that crosses the borders of two or more
nations
Imports - ANSWERSAny goods and services PURCHASED abroad and brought into a country
Exports - ANSWERSAny goods and services SOLD abroad and sent out of a country
Globalization - ANSWERSThe trend towards a greater Economic, cultural, Political and technological
interdependence among national institutions and economies
PESTLE - ANSWERSP=POLITICAL E=ECONOMICAL S=SOCIO-CULTURAL T=TECHNOLOGICAL L=LEGAL
E=ECOLOGICAL
Globalization is characterized by - ANSWERSNational borders becoming less relevant
Multinational Corporation - ANSWERSA business the has direct investment in several countries
Globalization of Market - ANSWERSConvergence in buyer preferences in the market around the world
E-commerce - ANSWERSThe use of internet to purchase, sell or exchange products, service and
collaborate with colleagues
Globalization of Production - ANSWERSThe dispersal of production activities to locations around the
world that helps a company achieve its cost-minimization or quality-maximization objectives for goods
and services
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