Short Answer
Easy difficulty • Direct answer format
Question 1
Quick RecallWhat is meant by international business?
- International business refers to all business activities that take place across national frontiers, involving the movement of goods, services, capital, personnel, and technology.
- It is broader than international trade as it includes not only import-export of goods and services but also foreign investments and overseas production.
- Examples include merchandise trade, service trade, licensing, franchising, joint ventures, and wholly owned subsidiaries operating across borders.