AOF- What is Int'l Bus?

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International Business is all commercial activities that take place to promote the transfer of ____________, ___________, ____________, people, ideas, and technologies across national boundaries.

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goods, services, resources

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As internet access and adoption are rapidly increasing around the globe, the number of digital buyers worldwide keeps climbing every year. True or False?

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True

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Contractual agreements that allow foreign firms to use products, services, and processes from other nations are known as: Licensing, Copyrighting; Licensing, Franchising; Copyrighting, Franchising; Patenting, Processing

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Licensing, Franchising

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A strategic business model that involves promoting products and services in various markets around the world and adapting the product/service to the cultural norms, taste preferences, and religious customs of the various markets.

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Multi-Domestic Strategy

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A business strategy that involves selling products and services in different foreign markets without changing the characteristics of the product/service to accommodate the cultural norms or customs of the various markets.

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Multi-National Strategy

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_____________ occurs when a nation has an advantage over other nations in terms of access to affordable land, resources, labor, and capital. In other words, a country will export those products or services that utilize abundant factors of production.

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Comparative Advantage

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Technological innovation that facilitates global communication and transportation has helped grow International Business.

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True

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The dissolution of a number of communist markets, thus opening up many economies to private business has slowed the growth of International Business.

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False

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Companies may seek to invest internationally when their home market becomes ________________.

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Saturated

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International Business encourages companies to become more innovative and efficient in their use of resources.

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True