Marketing chap 7 - 2/3 of world trade occurs US Europe...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
2/3 of world trade occurs: US, Europe, Canada, China and Japan Indicators of Economic Health : 1. Gross Domestic Product – Total dollar value of goods and services produced within a country. most common measure. US -> 14.7 trillion. China -> 9.8 Trillion. Japan -> 4.3 Trillion. 2. Balance of Trade – Difference between the monetary value of a nations exports and its imports. a. Exports > imports (surplus) b. Imports > exports (deficit) Two trends relating to exports and imports : 1. Imports have significantly exceeded exports, larger trade deficits 2. Volume of exports and imports increased Primary importers and exporters - > China, Canada, Japan, Mexico Level of economic development : 1. Developed countries – US, Europe, Canada, Japan a. Sophisticated marketing system b. Strong private enterprise c. Market potential for many goods and services 2. Developing countries a. Economy shifts its emphasis from agriculture to industry b. Growing middle class c. Standards of living increasing d. Education levels increasing e. Technology increasing f. Global firms beginning to enter the market: education and purchase power f.i. Achieved the characteristics defined – Brazil, China, India f.ii. Locked in a preindustrial economy – Africa Economic infrastructure : 1. Transportations system 2.
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern