Macro and microeconomic concepts in a global context

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Reference no: EM13751480

Macro and Microeconomic Concepts in a Global Context IP

Before making a decision about entering into the global market, business owners must familiarize themselves with some macro- and microeconomic concepts:

The World Bank and International Monetary Fund

Imports and exports as part of Gross Domestic Product (GDP)

Multinational corporations

Foreign direct investment and capital flows

Foreign exchange market and exchange rates

Labor theory of value

Marginal rate of transformation

Gains from trade, comparative advantage

Economies of scale

Define these terms in your own words as if explaining them to a business owner. Then, discuss how these terms individually apply to both supply and demand and to a business owner who is contemplating expanding internationally.

Reference no: EM13751480

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