Module 4

Question 1

How has the global economy evolved over the last 150 years?

Answer 1

Trading natural resources vs. consumer goods, technology, globalization

Question 2

What role does trade play in the economy?

Answer 2

Importing and exporting goods. Creating profit outside of home country.

Question 3

What is the impact of technology in the global economy?

Answer 3

It gives some countries with naturual resources the ability to import goods. and gives absolute advantage.

Question 4

How is trade measured through the balance of trade?

Answer 4

The value of a countries exports compared to the value of its imports over a time period.

Question 5

Methods to enter the market with an appropriate amount of risk

Answer 5

Franchising + Foreign Licensing; Global Outsourcing

Question 5

Methods to enter the market with an appropriate amount of risk

Answer 5

Franchising + Foreign Licensing; Global Outsourcing