Introduction

In this topic you will learn about how international trade, together with the actions and strategies of a business’ competitors and a business’ suppliers, influence a business’ decision-making process and strategy.

Read and Make Notes

Read pages 86 to 90 in Chapter 6 of your textbook and make notes under the following headings:

- Influence of competitors and suppliers;
- International influences;
- Importance of international trade and its impact;
- Impact of international trade agreements;
- The role of technology in international trade;
- Multinational businesses and relationships with government;
- Why become a multinational?;
- Potential problems for multinationals;
- Evaluation of the impact of multinationals on host countries.

Tasks

Now explore the following resources and add to your notes:

WATCH – Open Trade and Protectionism (tutor2u)

WATCH – Factors Influencing the Attractiveness of Markets (tutor2u)

WATCH – Free Trade and Trade Blocs (YouTube)

WATCH – What is the Role of the World Trade Organization?

WATCH – How Does a Blockchain Work? – Simply Explained (YouTube)

WATCH – What is Artificial Intelligence (or Machine Learning)? (YouTube)

WATCH – Multinationals (tutor2u)

Activities in the Book

Complete Activities 6.9 and 6.10 in Chapter 6 of your textbook.
Suggested answers can be found in the digital textbook and in General Resources.

Consolidate

The following videos will help draw together what you have learnt so far. Watch them and add to your notes:

WATCH – Different Types of Economies: Free Market Economies, Command Economies and Mixed Economies (YouTube)

WATCH – Competitive Situation Influences on Business (External Influences on Businesses) (YouTube)

WATCH – Multinational Corporations (MNCs) and Their Effects on Host Governments & Countries (YouTube)

Terminology

Write down (in your own words) definitions of all the key terms from Chapter 6 (pages 86 to 90).
Tick off these terms on your glossary.
A helpful tip is to make flashcards for key terms as you go along, with the word on one side and the definition on the other. This makes revision later on much easier.