Module 2- Global Business and The Different Forms.pdf -...

Jenna Santeramo
BUS-110
June 9 th , 2021
Module 2- Global Business and The Different Forms
Chapter 3- Exploring Global Business
1. Restrictions or not, international business is growing. However, the worldwide
recessions of 1991, 2001-2002 slowed the rate of growth for international business.
International trade is overall increasing. Trade between the US and other nations is
increasing in dollar value but decreasing in terms of our share of the world market. In the
United States, international trade now accounts for over one-fourth of gross domestic
product.
2.The general agreement on tariffs, trade (GATT) was formed to demolish trade barriers
and provide an environment in which international business can grow. Today, the World
Trade Organization (WTO), various economic communities carry on this mission. These
world economic communities include the European Union, the NAFTA, the CAFTA, the
Association of Southeast Asian Nations, the Pacific Rim and the Commonwealth of
Independent States, the Caribbean Basin Initiative, the Common Market of the Southern
Cone, the Organization of Petroleum Exporting Countries, the Organization for
Economic Cooperation and Development.

Chapter 4- Choosing a Form of Business Ownership
1. There are several different types of business ownerships; a sole proprietorship is a
business that is owned (and usually operated) by one person. Therefore, a few sole
proprietorships are large and have many employees but most are small. The US Uniform
Partnership Act defines a partnership as a voluntary association of 2 or more persons to
act as co-owners of a business for profit. A corporation (sometimes referred to as a
regular or C-corporation) is an artificial person created by law, with most of the legal
rights of a real person. An S corporation is a corporation that is taxed as though it were a