ITFT - International environment
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The document discusses key concepts in international business including balance of trade, balance of payments, foreign direct investment, and major international institutions like the WTO, UNCTAD, IMF, and EU. It provides definitions and explanations of balance of trade as the difference between a country's exports and imports, and balance of payments as a record of all transactions between a country and others. It also defines foreign direct investment as investment to acquire a lasting interest in an enterprise operating in another economy. The document outlines the objectives of UNCTAD to maximize trade and development for developing nations, the IMF to promote international cooperation and economic stability, and the EU to ensure free movement and common policies across member nations.
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- 3. MEANING • business activities which involves cross border transactions of goods, services, resources between two or more nations. ITFT College 3 04/26/14
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