Ch 16: Praxis Business: Foundations of International Business

About This Chapter

Let the lessons in this chapter help you revisit the foundations of international business, its role and effects. Watch these informative video lessons and complete the quick quizzes for immediate feedback.

Praxis Business Education: Foundations of International Business - Chapter Summary

Prepare for your Praxis Business Education exam with some help from our lessons. Review the basic groundwork for international business through our engaging video lessons. Complete the quizzes to check for understanding and to see the types of questions that you might find on the test. The following topics are included in this chapter:

  • Global markets and global trade
  • Exporting and importing in global markets
  • Methods for reaching global markets
  • Effects on trade in global markets
  • Hofstede's Theory of Cultural Dimensions
  • Regional integration's influences and purposes

At the end of each lesson, take the quick quiz to demonstrate mastery of the concepts. Watch the videos as many times as you wish, to make sure you're ready for the Praxis.

Praxis Business Education: Foundations of International Business Objectives

This topic area is a part of the larger law and international business portion of the Praxis business exam, addressed through about 18 questions, or approximately 15% of the test. International business concepts assessed in this section include the following:

  • Foundations, role and impact of international business
  • Environment of international business: cultural, social, legal, political and economic
  • Impact of a country's infrastructure
  • Balance of trade, imports/exports, trade agreements and trade barriers

You may also want to review chapters concerning contract, consumer and computer law, to prepare fully for this section of the Praxis Business Education test.

6 Lessons in Chapter 16: Praxis Business: Foundations of International Business
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.

Hofstede's Cultural Dimensions Theory

5. Hofstede's Cultural Dimensions Theory

Dimensions of culture are an important aspect of international business. Knowing how cultures view different aspects of business can help a manager navigate through the international business market.

Regional Integration: Definition, Influence & Purpose

6. 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.

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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