Ch 42: ORELA Business Education: Trade & International Business

About This Chapter

Review the lessons in this chapter to get reacquainted with trade and international business. Self-assessment quizzes and a chapter exam can test your comprehension as you study for the ORELA Business Education assessment.

ORELA Business Education: Trade & International Business - Chapter Summary

Get the in-depth information you need to confidently answer questions related to trade and international business on the ORELA Business Education assessment. Exploring the lessons in this chapter ensure you're prepared for the following on the exam:

  • Defining comparative advantage and absolute advantage in trade
  • Discussing gains from trade and the benefit of specialization
  • Sharing the advantages and disadvantages of trade protectionism
  • Describing managerial functions and characteristics of the international manager in the global organization
  • Analyzing internationalization and globalization in businesses
  • Explaining the act of managing in international companies, as well as managing a diverse workforce in contemporary companies
  • Examining international marketing, the 4 Ps of marketing and international trade organizations and agreements

Find lessons by scrolling through the list along the right-hand sidebar. You can choose to watch them in any sequence that works for you. If you want to revisit key topics within any lesson, use the timeline to identify and jump to those topics without rewatching the entire video.

ORELA Business Education: Trade & International Business - Chapter Objectives

Use this ORELA Business Education: Trade & International Business chapter to prepare for questions in the economics and international business content domain of the test. This domain constitutes about 19% of the total exam and explores microeconomics, macroeconomics, international business, marketing, trade and more. In addition to watching the short video lessons, you can access self-assessment quizzes and a chapter exam to gauge your comprehension of the materials.

The computer-based ORELA assessment is designed to ensure you're ready to obtain educator licensure needed to teach business education in Oregon classrooms. It consists of 150 multiple-choice questions and lasts three hours. In addition to economics and international business, the test examines your comprehension of business management and communication, marketing and accounting. A score of 234 or higher is required to pass the exam.

12 Lessons in Chapter 42: ORELA Business Education: Trade & International Business
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 ORELA Business Education: Practice & Study Guide course

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