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Ch 20: Global Trade, Global Markets & Macroeconomics

About This Chapter

Watch the video lessons in this chapter to refresh your knowledge of macroeconomics as well as global trade and markets. Explore the factors that influence international trade along with the pros and cons of changing global markets.

Global Trade, Global Markets & Macroeconomics - Chapter Summary

Globalization has made a significant impact on economies and societies throughout the world. This chapter's video lessons examine some of the key concepts and terms related to global business. Our professional instructors discuss forces that impact global trade, global market changes, trade protectionism and global market strategies. You'll also review international management, entrepreneurship and regional integration. After studying the lessons, you should be able to:

  • Discuss the advantages of the global market
  • Explain the processes of importing and exporting
  • List strategies businesses use to reach global markets
  • Identify factors that affect global trade
  • Describe the types of regional integration
  • Understand the benefits and drawbacks of trade protectionism
  • Recognize the risks and benefits of global market changes
  • List characteristics of effective international managers
  • Explain how entrepreneurs contribute to economic growth
  • Predict individuals' future earnings based on their education and career goals

We strive to deliver video lessons that are information-packed and engaging. Videos include tags so that you can go back and review portions of the lessons without having to rewatch them in their entirety. You can further reinforce what you've learned by studying the transcripts included with each lesson. Once you feel ready, take the self-assessment lesson quizzes to check your comprehension of the chapter's topics.

10 Lessons in Chapter 20: Global Trade, Global Markets & Macroeconomics
Test your knowledge with a 30-question chapter practice test
The Importance of the Global Market and Global Trade: Role & Advantages

1. The Importance of the Global Market and Global Trade: Role & Advantages

We all need resources, products and service to live and thrive. Sometimes these things are not readily available locally. In this lesson, you'll learn about the importance of international trade and globalization in fulfilling our needs and wants.

Importing and Exporting in a Global Market: Definition, Process & Importance

2. Importing and Exporting in a Global Market: Definition, Process & Importance

The lifeblood of the global market is trade. In this lesson, you'll learn about the importance of importing and exporting and related concepts including trade deficits, balance of payments, and formal and informal barriers to trade.

Strategies for Reaching Global Markets: Examples & Types

3. Strategies for Reaching Global Markets: Examples & Types

In 2013, the global market had over seven billion potential consumers with needs and wants to be fulfilled. In this lesson, you'll learn about strategies businesses can use to tap this immense market.

Forces that Affect Trade in Global Markets

4. Forces that Affect Trade in Global Markets

The global marketplace is diverse. While diversity provides opportunity, it also provides challenges. In this lesson, you'll learn about the forces that affect trade in the global market. You'll also have a chance to take a short quiz after the lesson.

Regional Integration: Definition, Influence & Purpose

5. Regional Integration: Definition, Influence & Purpose

Regional integration is when a group of countries get together and develop a formal agreement regarding how they will conduct trade with each other. There are many different levels of involvement, and in this lesson, we will review the types and how a manager should understand and match them to his or her company's international needs.

Advantages and Disadvantages of Trade Protectionism

6. Advantages and Disadvantages of Trade Protectionism

Countries want to win the game of international trade by exporting more than they import. Some countries pursue trade protectionism to do this. In this lesson, you'll learn about the advantages and disadvantages of this strategy and related concepts.

The Changing Landscape of the Global Market

7. The Changing Landscape of the Global Market

The global market is still developing, and a market that is developing is dynamic. The constant change offers opportunities and presents risks to countries and their domestic industries. In this lesson, you'll learn about some of these risks and opportunities.

Characteristics of the International Manager in Global Organizations

8. Characteristics of the International Manager in Global Organizations

Managers need to be able to plan, control, organize, and lead their companies and departments. When we look at international business, there are some additional aspects that come into play for a manager to be successful.

Entrepreneurship & the Economy: Definition & Importance

9. Entrepreneurship & the Economy: Definition & Importance

Entrepreneurs fill a vitally important role in market economies. In this lesson, you'll learn about the importance of entrepreneurship, different types of entrepreneurs and how they add value to an economy.

Predicting Future Earnings Based on Education & Goals

10. Predicting Future Earnings Based on Education & Goals

There is a strong relationship between educational level attained and future earnings. There is also a relationship between future earnings and career goals as evidenced in the choice of college major. We will explore both in this lesson.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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