Answered: Examine the relationship between…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Examine the relationship between international business and international trade.

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Step 1

The business that conducts its activities within the country is known as a national business whereas, the business that is not limited to a country is known as international business. The business between two or more countries is known as international business. All the commercial transactions, sales, private and governmental commercial transactions between two or more countries are included in the international business. International trade is also not limited to a specific country. Sales of goods and services are defined as international trade.

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