Question

Write short note on International Business.

Answer 1

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International business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational level.

It involves cross-border transactions of goods and services between two or more countries. Transactions of economic resources include capital, skills, and people for the purpose of the international production of physical goods and services such as finance, banking, insurance, and construction. International business is also known as globalization.

To conduct business overseas, multinational companies need to bridge separate national markets into one global marketplace. There are two macro-scale factors that underline the trend of greater globalization. The first consists of eliminating barriers to make cross-border trade easier (e.g. free flow of goods and services, and capital, referred to as "free trade"). The second is technological change, particularly developments in communication, information processing, and transportation technologies.

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Answer 2

Answer:

International Business - The exchange of goods and services, lieu of earning money and to expand the business is done between the two or more countries.

The international business trades not only in goods and services but also in capital, knowledge, as well as the pattern of working and it's technology and techniques.

The international business allows the awareness of new technologies to the operation of the business.

It also benefits in a good exchange of currency and easy money flow management to boost the revenue increment for the economy.