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World Economy

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Heath Barnacascel

Heath Barnacascel

Published in: Business, Technology

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  • 1. By: Heath Barnacascel Principles of Business Ch.3
  • 2.
    • The difference between a country‚Äôs total exports and total imports is called the Balance of Trade
    • If a country exports more than it imports, it has a trade surplus, which is good
    • If a country exports less than it imports, it has a trade deficit, which is bad
  • 3.
    • The exchange rate is the value of a currency in one country compared with the value in another
    • Supply and Demand effects the value of currency in a Country
    • The balance of exchange rate between the United States and Mexico is -64,376.3
  • 4.
    • The following are the factors that affect exchange rates :
    • Balance of Payments
    • Economic Conditions
    • Political Stability
  • 5.
    • Geography affects business rates because it affects where you can build you businesses and how easy is it to get to
    • Example- If your business is in a hard to reach area then you might not get as many customers or consumers
  • 6.
    • Culture is the accepted behaviors, customs, and values of a society
    • The main cultural and social factors that affect international businesses are language, religion, values, customs, and social relationships