About This Chapter
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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Other chapters within the US History 2 Study Guide course
- Industrialization & Urbanization in America
- The Progressive Era
- American Imperialism
- The Roaring 20s
- The Great Depression
- America & World War II
- America in the Cold War
- US Protests, Activism & Civil Rights
- 1970s America
- The Presidents of Contemporary America
- Explaining American Traditions
- 21st Century America (1992-2013)
- Elements of American Government
- U.S. Public Policy & Social Programs
- The Economics of Public Policies
- Fiscal & Economic Policy of American Government
- Employment and Unemployment Issues
- Modern Economic Systems Overview
- Types and Effects of Inflation
- Principles and Basis of Business Decisions
- International Trade Treaties & Regulations
- Fundamentals of Geography
- Geography and Farming
- Geography & the Global Economy
- Political Geography Overview
- Settlement Patterns Overview
- World Population
- Human and Cultural Migration