Entrepreneurship Development - M.COM 4TH SEMESTER FINAL EXAMINATION, 2022

 INTERNATIONAL BUSINESS

 International business refers to any business activity which involves the transfer of resources, goods, services, knowledge, skills or information across national boundaries. These activities may pertain to the production of physical goods or to the provision of services such as banking, finance, insurance, education, construction, etc. The activities that comprise international business are referred to as international transactions and take the form of international trade, international investment, and joint ventures and strategic alliances. International trade is the process of buying and selling of goods and services between nations also known as export and import. International investment is the process of investing resources in business activities outside the home country. Joint ventures and strategic alliances are contractual business arrangements between firms in different countries. 

•  International/Foreign trade is referred to as the exchange or trade of capital, goods and services between different nations/across international borders/territories. 
• This kind of trade contributes and increases the world economy. 
•  In most countries, it represents a significant share of gross domestic product (GDP). 
• While international trade has been present throughout much of history, its economic, social, and political importance has been on the rise in recent times