Chapter 3 - Chapter 3 Chapter three focused competing in...

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Chapter 3 Chapter three focused competing in the business market in a global view. It also dealt with the idea of trade as it pertains with business competition. International trade is trade that deals with different nations trading to help improve standard of living and the quality of life in general. When discussing global trading there are two primary concerns or concepts. One of the main concerns is that the nation doing the trading balances the trade that is done. Balancing means to keep the difference in the imports and exports closely related so the economy does not become an unequal distribution which would not be good for the economy in general including the standard of living and quality of life. The second concern a nation must look to before performing trade with others is balancing payments. This is making sure the money paid is relatively close to the money received. Nations trade for a few reasons. With specialization one country can be extremely well off with one good and they can trade it to other nations so they
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Chapter 3 - Chapter 3 Chapter three focused competing in...

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