23 - of: o Labor o Natural Resources o Capital o...

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Chapter 4 – Competing in Global Markets Why Nations Trade Boosts economic growth Expands markets More efficient production systems Less reliance of economies of home nations Exports- domestically produced goods and services sold in markets in other countries Imports- foreign-made products and services purchased by domestic consumers International Sources of Factors of Production Decisions to operate abroad depend upon availability, price, and quality
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Unformatted text preview: of: o Labor o Natural Resources o Capital o Entrepreneurship Companies can spread risk throughout nations Size of the International Marketplace As developing nations expand into the global marketplace, opportunities grow Many developing countries have posted high growth rates of annual GDP o USA 4.4% o China 11.1% o India 9.4% Exchange Rate Barriers to International Trade Social, Economic, Legal and Political, Free Markets...
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