Global Economy

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Global Economy

  1. 1. Avery Trendel Block 3
  2. 2. <ul><li>The difference between a country’s total exports and total imports is called the balance of trade </li></ul><ul><li>It is important for a country because the better trade position they have the more countries will want to trade with them. </li></ul>
  3. 3. <ul><li>The exchange rate is the value of currency in one country compared with the value in another. </li></ul><ul><li>Examples of exchange rates </li></ul><ul><li>One British pound is equal to $1.82 in our dollars </li></ul><ul><li>One Japanese Yen is equal to $0.009 in our dollars. </li></ul>
  4. 4. <ul><li>Balance of Payments </li></ul><ul><li>Economic Conditions </li></ul><ul><li>Political Stability </li></ul>
  5. 5. <ul><li>Geography is important when doing business internationally because location, climate, terrain, seaports, and natural resources of a country influence business activity. </li></ul><ul><li>For example: a nation with many rivers or seaports can easily ship products out. </li></ul>
  6. 6. <ul><li>Cultural influences are important on international business because language, religion, values, customs, and social relationships come in to play. </li></ul><ul><li>For example in Mexico, many businesses close in the afternoon by tradition while people enjoy lunch and a siesta (relaxing period) </li></ul>
  7. 7. <ul><li>Our balance of trade with Australia- $11,874.40 </li></ul><ul><li>India- ($- 7.095.40) </li></ul><ul><li>China- ($-266,332.70) </li></ul><ul><li>Europe- ($-107,239.90) </li></ul>

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