Chapter 3 Key topics to consider when studying Chapter three of your Textbook. What People Are Saying We prefer world law, in the age of self-determination, to world war in the age of mass extermination.
International trade can be the linking pin between dependent nations.
The Basis for International Business Theoretically, international trade is as logical and worthwhile as, say, trade between Indiana and Ohio. Yet nations tend to restrict the import of certain goods for a variety of reasons. International business encompasses all business activities that involve exchanges across national boundaries. An absolute advantage is the ability to produce a specific product more efficiently than any other nation. Saudi Arabia has an absolute advantage in the production of crude oil and petroleum products, South Africa in diamonds and Australia in wool.