+
3 Tutorials that teach Global Economy
Take your pick:
Global Economy

Global Economy

Author: Jeff Carroll
Description:

This lesson is an overview of international trade and the intersection of globalization and business.

(more)
See More
Fast, Free College Credit

Developing Effective Teams

Let's Ride
*No strings attached. This college course is 100% free and is worth 1 semester credit.

28 Sophia partners guarantee credit transfer.

281 Institutions have accepted or given pre-approval for credit transfer.

* The American Council on Education's College Credit Recommendation Service (ACE Credit®) has evaluated and recommended college credit for 25 of Sophia’s online courses. Many different colleges and universities consider ACE CREDIT recommendations in determining the applicability to their course and degree programs.

Tutorial

Source: Image of globe, dollar bill, t-shirt, red car, wine, blue car, man at laptop on phone, box, handshake, crowd of people, images by Video Scribe, License held by Jeff Carroll; Image of oil pump, Public Domain, http://bit.ly/1pHpQoF; Image of peanut, Public Domain, http://bit.ly/ULZvM4; Image of trade balance sheet, Public Domain, http://bit.ly/1r7ftL5.

Terms to Know
Absolute Advantage

The capacity to produce a higher number of goods or services using the same production resources as competitors.

Comparative Advantage

A trading advantage achieved over another company due to lower opportunity cost.

Exports

Goods produced domestically and sold to a foreign nation.

Globalization

The expansion of business into international markets.

Imports

Goods domestically sold that were produced in a foreign nation.

International Business

Business conducted between two or more nations.