BBB4M – International Business QUESTIONS YOU SHOULD BE ABLE TO ANSWER IN JANUARY

All countries have economies … What is an economy ? What makes an economy work? What are the factors of production? What factors are considered to assess the condition an economy is in?

Why do some countries have wealthy, successful economies, while others do not? What key economic factors determine whether not a country has the ability to participate in trade, and to attract foreign investment and businesses?

Why do countries trade? What are the benefits and the drawbacks associated with trade? Why do countries decide to trade some goods and services and not others? What are trade barriers and how do countries and businesses deal with them?

What country partnerships represent the most significant trading participants in world trade? What world level organizations and institutions are involved in promoting economic development and stability, and regulating trade among countries?

What is the extent of Canada’s involvement in global trade? Which countries are Canada’s most important trading partners, and why? Why is trade such an important factor in determining the quality of life and the standard of living of Canadians now, and in the future?

What are the challenges facing S/M/L businesses as they attempt to sell their goods and/or services to customers and consumers in other countries? What factors determine whether or not a successful business should export its goods or services outside Canada?

How have current and past technical developments in communication and transportation played a role in the evolution of world trade?

Why are some companies successful at conducting business in foreign markets, while others are not? What are the success factors connected with profitable outcomes in foreign markets?

What factors affect the competitiveness and productivity of trading nations? What must countries do to ensure it can compete in world trade and business?

What kind of career opportunities exist in International Business? What are the educational requirements for international business programs at most colleges/universities?

Do you have what it takes? What personal traits are needed to be successful in an international business career? Do you have what it takes?