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    Lesson 1 - IBT

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    Jhe Ca
    International trade contributes to economic growth in several ways. It creates opportunities for countries to grow, innovate, and raise standards, leading to more jobs and reduced poverty. Engaging in international trade provides many benefits, including increased revenues from a wider market scope, enhanced competition pushing for higher efficiency, and continuous quality improvements necessary to gain sales. A firm's operations are most affected by external factors beyond its control, such as economic, political, competitive, customer, and environmental conditions.

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    Lesson 1 - IBT

    Uploaded by

    Jhe Ca
    41 views2 pages
    International trade contributes to economic growth in several ways. It creates opportunities for countries to grow, innovate, and raise standards, leading to more jobs and reduced poverty. Engaging in international trade provides many benefits, including increased revenues from a wider market scope, enhanced competition pushing for higher efficiency, and continuous quality improvements necessary to gain sales. A firm's operations are most affected by external factors beyond its control, such as economic, political, competitive, customer, and environmental conditions.

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    International trade contributes to economic growth in several ways. It creates opportunities for countries to grow, innovate, and raise standards, leading to more jobs and reduced poverty. Engaging in international trade provides many benefits, including increased revenues from a wider market scope, enhanced competition pushing for higher efficiency, and continuous quality improvements necessary to gain sales. A firm's operations are most affected by external factors beyond its control, such as economic, political, competitive, customer, and environmental conditions.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    41 views2 pages

    Lesson 1 - IBT

    Uploaded by

    Jhe Ca
    International trade contributes to economic growth in several ways. It creates opportunities for countries to grow, innovate, and raise standards, leading to more jobs and reduced poverty. Engaging in international trade provides many benefits, including increased revenues from a wider market scope, enhanced competition pushing for higher efficiency, and continuous quality improvements necessary to gain sales. A firm's operations are most affected by external factors beyond its control, such as economic, political, competitive, customer, and environmental conditions.

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    © All Rights Reserved
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    LESSON ONE:

    INTERNATIONAL BUSINESS AND TRADE

    ASSESSMENT 1

    1. Are business and trade inseparable in actual setting? Why? Based on their definitions, it is a case to
    case basis. Yes, they are inseparable in actual setting because international trade is category which
    exists under business. To explain further, business defines the entire control of the production, buying
    and selling of goods and services, while trade is narrowed to the buying and selling of goods. Therefore,
    trade cannot exist if there is no business, yet business will still exist even without the essence of trade.

    2. How do you attribute international trade to the growth of the nation economy? Explain. International
    trade contributes to the economic growth of a country as it is essential in creating opportunities for
    these countries to grow and innovate, meaning, this can become a factor for raising the standards of the
    products they produce. This also creates more jobs which increases the employment rate. This may also
    help in the reduction of poverty. International may also allow the enjoyment and exploration of a wider
    range of goods to the consumers.

    3. Identify some of the benefits which may be deriving from engaging in international trade. There are
    many benefits to the engagement in international business and trade, to name a few, increased
    revenues are one of the main benefits. There will be a significant increase in revenues because a firm
    involved will be able to have a wider scope in their market. Secondly, competition may enhance,
    therefore, pushing firms to significantly to operate in high efficiency. Lastly, there will be a continuous
    improvement in the quality of the firm’s products, as this is essential for them to survive and gain
    increase in sales.

    4. Identify the elements of the firm’s business environment, political environment, and technological
    environment.

    The elementsof a business environment are:a. politicalb. economicalc. sociald. technologicale.


    environmentald. legalThe elements of a political environment are:a. tax and economic policiesb. political
    stabilityc. foreign trade regulationsd.

    The elements of technological environment are:a. level of technologyb. the pace of technological
    changesc. technological transferd. research and developmente. impact of technology in business

    5. What factors are the most to affect a firm ‘s operation? Explain. The main factor which can affect a
    firm the most are its external factors. These external factors are mainly: the economy, politics,
    competitors, customers, and even the weather. These are circumstances, influences, or situations which
    can affect the firm but they cannot control.

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