International Business - Environments and Operations Part One Background For International Business Chapter 1 Globalization and International Business Introduction Globalization is the ongoing process that deepens and broadens the relationships and interdependence among countries. International Business is a mechanism to bring about globalization. (The term sometimes refers to the integration of world economies through the reduction of barriers to the movement of trade, capital, technology
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measurement scales: three key principles – magnitude – Is the measure of moreness – whether a measure is more, less of equal to another attribute. 2) Equal interval – distance between each interval is equal (6cm-8cm is the same interval as 10cm-12cm). 3) Absolute zero: nothing present of the attribute being tested. I.e 0 cm tall. Not the same for measuring intelligence, as a ‘0’ reading may indicate some intelligence, but scale does not measure this. * Categories of measurements are important when
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is made. Chapter 2 2.1 The principle of comparative advantage is everyone can do better when each person (or each country) concentrates on the activities for which their opportunity cost is lowest (or for which they have a comparative advantage) 2.2 Production Possibility Curve (PPC) is a graph that describes the maximum amount of one good that can be produced for every possible level of production for another good. Example: Tom has a comparative advantage in nuts because his PPC has a flatter slope
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Hobbes describes realism as all men interacting in anarchy and are equal. They are motivated by competition (scarcity), glory and diffidence. Realism emphasizes on constrains on politics imposed by egoism and the absence of anarchy which require ‘the primacy in all political life of power and security’ (Donnelly, 2009).Realists rely on themselves and do not recognize any authority in anyone and pursue power at all cost at national interest to achieve sovereignty which results them to maximize their
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Economics 2410-001 Multiple Choice You have 2 hours to complete the following multiple choice examination. There are a total of 50 questions worth 2 points each. Identify the letter of the choice that best completes the statement or answers the question. You are expected to complete your work in accordance with the honor code. ____ 1. If there are diminishing returns to capital, then a. increases in the capital stock increase output by ever smaller amounts. b. increases in the capital
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Introduction to Neoliberalism/Neoliberal Institutionalism The theory/theoretical framework that is used to examine cooperation between nation-states, which emphasizes the possibility of mutual gains Related terminology 1. Absolute gain: a theoretical option open to political actors based on the belief that decisions will benefit all organisations within a state and/or all member states within an intergovernmental organisation (IGO) Includes all aspects of cooperative behaviour between states;
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experience of the economic crisis of the 1930s and the Second World War. This was a protectionist era in which nations placed high trade barriers mainly in the form of tariffs, to protect their own industries, completely ignoring the benefits of comparative advantage and free trade. The prevailing belief after the Second World War was that national policies, preventing international trade were the major reason behind the economic downfall in the 1930s and to prevent a return of the depression, the US envisioned
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Economics Week | Lesson | Learning Goals | Due Date | 1 | 01.00 Welcome to Economics01.01 How Do I Plan for Success? 01.02 What is Economics? 01.03 Why Can’t I Have It All?01.04 Demand 01.05 Supply 01.06 The Soap Opera of Supply and Demand | After completing 01.00 you will be able to: * navigate your economics course * identify how different elements of society are interconnected by economics * print and utilize the module checklist to identify lessons and assessments in this module
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Microeconomics Chapter 1 What is economics? Economic questions exist because everyone wants more than it can possibly get. We can't satisfy all our wants, this is called scarcity. General shortage of everything is scarcity. Because of scarcity we must make choices. These choices depend on the incentives we are faced with. Incentives are rewards that we would reap or a penalty we would face if we made a certain choice. Definition of economics- the social science that studies the choices that
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such interactions to be possible. The internet has ushered in a whole new world of possibilities in business to business interactions. It is one of the major reasons why the expansion of business activities into the digital cyberspace have been an absolute necessity for an organization to be competitive in its market. What business to business transactions mean in the digital age is the interaction of commerce between two businesses electronically either through the internet, intranet, extranet or
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