After you have read and studied this chapter, you should be able to
- Discuss the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.
- Explain the importance of importing and exporting, and understand key terms used in global business.
- Illustrate the strategies used in reaching global markets and explain the role of multinational corporations.
- Evaluate the forces that affect trading in global markets.
- Debate the advantages and disadvantages of trade protectionism.
- Discuss the changing landscape of the global market and the issue of offshore outsourcing.
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