Global economy

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Imports are foreign goods and services bought by citizens, businesses, and the government of another country.

Exports are the goods and services produced in one country and purchased by residents of another country.

functions of business

Financing: is the process of providing funds for business activities, making purchases, or investing.

managment:is the process of acheving company goals by planing orginizing and leading.

marketing:the process of planing promoting and selling goods and servieces

procurment:reselling of goods that have already been produced

production:creating goods and services

free trade:is a economic policy that determine which companys trade with each other

embargo:an official ban on trade or other commercial activity with a particular country.

quota:a limited quantity of a particular product which under official controls can be produced, exported, or imported.

tariff:a tax or duty to be paid on a particular class of imports or exports.

Balance of trade: is the difference between the value of a country's imports and exports for a given period

Comparative advantage is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners

A trade surplus is an economic indicator of a positive trade balance in which the exports of a nation outweigh its imports.

trade deficit occurs when a nation imports more than it exports.

A code of ethics: is a guide of principles designed to help professionals conduct business

Fair trade is an arrangement designed to help producers in growing countries achieve sustainable and equitable trade relationships.

passes the code of ethics

Sweatshops:is a crowded workplace with very poor, socially unacceptable or illegal working conditions. The work may be difficult, dangerous, climatically challenging or underpaid.

does not pass the code of ethics

Type's of business

Corporation.A busniess that is owned by share holders.

Partnership. Partnerships are the simplest structure for two or more people to own a business together.

Sole proprietorship. A sole proprietorship is easy to form and gives you complete control of your business.

Multinational corporation

The multinational corporation is a business organization whose activities are located in more than two countries and is the organizational form that defines foreign direct investment.

Globalization

Globalization means the speedup of movements and exchanges (of human beings, goods, and services, capital, technologies or cultural practices) all over the planet.