International Business Part I BCS-BE-8: The student analyzes how international business impacts business.

The Global Economy We live in a global economy fueled by ____________. The _______ of the global economy is called globalization. global economy the ______economies of the nations of the world international trade the ________ of goods and services between nations

The Global Economy Sony is an example of a _______corporation. multinational corporation a company that does ______ in many countries and has facilities and offices around the world

International Trade Trade allows countries to meet their _______ wants and needs as well as to help their own __________. trade a specific area of business or industry, a skilled _______, or the people who work in a specific area of business or industry

Figure 10.1 Major Imports and Exports of the United States

Managing and Leading Others Leaders know their _________. Leaders know the ____ of their employees. Leaders can analyze current ________. Leaders have _______ and can inspire others. Leaders help a company run _________.

Managing and Leading Others Some people who are _______ are not leaders. They may focus on _______ tasks to make sure work gets done, but they may not be visionaries or ________ others.

Types of Trade ________ trade is the ______, purchase, and sale of goods and services within a country. World trade is the ________ of goods and services across international boundaries.

Imports and Exports One country’s _____ are another countries exports. imports goods and services that one _______buys from another country exports goods and _______ that one country sells to another country

Balance of Trade The United States has a ________balance of trade with Australia. balance of trade the difference in value between a _______imports and exports over a period of time

Graphic Organizer Trade ________ A country exports more that it imports Trade ________ A country imports more that it exports

Specialization To ______ means to focus on a particular activity, area, or product. Specialization ______and sustains a market economy.

Using Resources to Specialize ________ can specialize and trade some of the items that they produce in order to obtain other countries’ goods and _________.

Using Resources to Specialize ________ that specialize may have a comparative _________. comparative advantage the ability of a country or ________to produce a particular good more effectively than another country or company

Currency To trade with another country, ________must _______their money into that nation’s currency. Currency is ______on the foreign exchange market.

Currency The exchange rate for ________ changes from day to day and from country to country. exchange rate the _______ at which one currency can buy another currency

Currency Companies follow the exchange rates to find the best prices for ________. A _______ with an appreciated exchange rate can buy more of another country’s products.