Unit 2 Individual Project
Presented in Partial Fulfillment
Of the Requirements for the Class
MGMT 220 Introduction to International Business
By Marisa Canales
14 January 2011
When I, Marisa think about international trade one country comes to mind; Japan because Japan manufactures cars or electronics for example for America but it needs from us metals like iron and copper. Without us trading back and forth with Japan both sides would be hurting economy. In which I, Marisa will be going over more in detailed but first I, Marisa need to know the relation between international trade and world output, describe the broad pattern of international trade, if the nations of the world were to suddenly cut off all trade with one another, what products might I, Marisa think will no longer be able to obtain into the U.S. Also I, Marisa will identify the products Japan would need or to do without.
But in order to understand the relation between international trade and world output I, Marisa need to first understand what they each mean and then connect the two. So what does international trade mean? “International trade is the exchange of goods and services between countries. This type of trade gives rise to a world economy, in which prices, or supply and demand, affect and are affected by global events.” (Investopedia.com, 2011) Now that I, Marisa know what international trade means I, Marisa now need to know what world output is? Output means the “amount of energy, work, goods or services, etc. produced by a machine, factory, firm, or an individual in a period.”(Businessdictionary.com, 2011)
So now that I, Marisa now what they general now I, Marisa can explain better there relations between them. The best explanation that I, Marisa found was when the world output in year can influences the international trade. But “when a world economic output slows so does the level of International Trade; when an Output increases it generates...