Ch 45: MTEL Business: Trade & International Business in Macroeconomics

About This Chapter

This series of educational video lessons can help you prepare you to earn business teaching certification in Massachusetts by passing the MTEL Business examination. Revisit macroeconomics topics when you complete this chapter on trade and international business.

MTEL Business: Trade and International Business in Macroeconomics - Chapter Summary

Take in this chapter's information before you sit for the MTEL Business examination, which could include questions on trade and international business. Examine the differences between legal and political environments, and look at the ways in which global managers must strive for diversity and cultural awareness in the workplace. Discover the percentage of U.S. companies that export their goods and learn about the theory of comparative advantage. The video lessons also outline subjects such as tariffs, import quotas and trade protectionism strategies. Your exploration of this chapter's online lessons could help you to:

  • Understand the advantages of specialization
  • Define absolute advantage
  • Identify some benefits and drawbacks of trade protectionism
  • List five managerial functions of international organizations
  • Explain the responsibilities of international business managers
  • Describe aspects of internationalization and globalization
  • Discuss the experience of working internationally
  • Examine diversity in the workforce
  • Understand the benefits of global marketing
  • Explain aspects of marketing's four Ps, place, price, product and promotion
  • Name some international trade organizations

Use this chapter to get set for questions related to these topics on the MTEL Business examination. The short, entertaining video lessons are offered online. Reap the benefits of self-paced learning and the expertise of the knowledgeable instructors who can answer your questions. Animated videos and transcripts will play a role in teaching you about trade and international business. Five-question self-assessment quizzes are also included in the chapter.

MTEL Business: Trade and International Business in Macroeconomics Chapter Objectives

The third subarea of the MTEL Business examination is titled, Economics. It features 13-15 multiple-choice questions and accounts for 11% of the test score. Demonstrate your knowledge of comparative advantage, macroeconomics theories and more when you reach this section. You'll have four hours to complete the entire examination, which has 100 multiple-choice questions and two open-response assignments within seven subareas. The test is computer administered.

12 Lessons in Chapter 45: MTEL Business: Trade & International Business in Macroeconomics
Test your knowledge with a 30-question chapter practice test
Comparative Advantage: Definition and Examples

1. Comparative Advantage: Definition and Examples

Understand the definition of comparative advantage, using two goods as an example. This key lesson incorporates the basic foundations of economics into one foundational theory explaining what goods and services that people,and nations, should produce and for whom they should produce it.

Gains From Trade and the Benefit of Specialization

2. Gains From Trade and the Benefit of Specialization

Explore one of the most widely accepted ideas in economics - the idea that nations benefit from specialization and exchange, reaping gains from trade.

Absolute Advantage in Trade: Definition and Examples

3. Absolute Advantage in Trade: Definition and Examples

In this lesson, you'll learn what absolute advantage is and how to easily identify it within examples of international trade. In addition, you'll learn the important difference between absolute advantage and comparative advantage.

Advantages and Disadvantages of Trade Protectionism

4. 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.

Managerial Functions in the International Organization

5. Managerial Functions in the International Organization

Every manager focuses on five different aspects of management. These aspects are common knowledge and when used together, they help to create an effective manager. This lesson will address those areas and integrate them into international business.

Characteristics of the International Manager in Global Organizations

6. 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.

Internationalization & Globalization of Businesses

7. Internationalization & Globalization of Businesses

When companies decide to do international business, they have a wide variety of methods they can use to actually enter the market. This lesson will discuss those different methods and analyze how they work in an international context.

Managing in International Companies

8. Managing in International Companies

Managing in international companies takes a special type of person. The reason for that is that not only do managers have to have an understanding of how to conduct business, but they also must deal with several other factors that are present in the international arena.

Managing a Diverse Workforce in Contemporary Organizations

9. Managing a Diverse Workforce in Contemporary Organizations

Diversity is all around us and is a huge part of the business climate today. All companies strive for diversity, so they can have a unique perspective and look at issues through the eyes of their employees. This lesson will address diversity in a global setting.

International Marketing: The Importance of Global Marketing Strategy

10. International Marketing: The Importance of Global Marketing Strategy

Companies cannot just concentrate on domestic markets if they are to remain competitive. Global marketing allows marketing managers to look for growing target markets and product opportunities overseas.

International Marketing Mix and the 4 Ps of Marketing

11. International Marketing Mix and the 4 Ps of Marketing

In this lesson, we will discuss how to adjust the marketing mix when pursuing an international market. Additionally, the Internet's impact on the marketing mix will be discussed.

International Trade Organizations and Trade Agreements

12. International Trade Organizations and Trade Agreements

International trade organizations and trade agreements have enormous power in the global trade environment. In this lesson, you will learn about the roles of the GATT, NAFTA, and the World Trade Organization.

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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Other Chapters

Other chapters within the MTEL Business (19): Practice & Study Guide course

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