Bundle: Foundations of Business, 4th + MindTap Introduction to Business, 1 term (6 months) Access Code
Bundle: Foundations of Business, 4th + MindTap Introduction to Business, 1 term (6 months) Access Code
4th Edition
ISBN: 9781305242579
Author: William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher: Cengage Learning
Question
Book Icon
Chapter 3, Problem 1CC
Summary Introduction

To determine: The reasons on firms engaging in international trade.

Introduction: International trade is an arrangement of activities that plan to trade capital, merchandise, and services between foreign nations over their worldwide outskirts.

Expert Solution & Answer
Check Mark

Explanation of Solution

The reasons on firms engaging in international trade are as follows:

The firms take part in international trade for a similar reason they participate in domestic exchange to extend their business and profits and to compete among other companies. A firm is occupied with global business when it gets some bit of this information shape, or trade some segment of its amount produced to a business situated in an outside nation.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Why are firms engaged in international trade?
Why is international trade important to a nation?
What is the Bill of Lading in international trade?