QuestionQuestion

1. Define international business and discuss the scope of international business.
2. What is meant by the international business environment? Discuss briefly the importance of understanding the international business environment.
3. Discuss the concepts of micro and macro environments.
4. Explain the framework for analyzing the international business environment in detail.

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International business is defined as the commercial activities that involve the exchange of goods and services across national borders. The exchange can involve two or more countries aiming at achieving trade relations and social interactions. Normally, international trade involves and is conducted by multinational companies
The scope of international trade encompasses international transactions in physical goods, services, and finance. Other important activities that complete international business is communication and commerce of intangible items. Some of the common international transactions in physical goods include mining, manufacturing, and agricultural products. On the other hand...

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