* Clearly define international business and present some examples of how its challenges differ from domestic trade.
* Compare and contrast various global marketplaces in the world economy.
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answer-
International business is the business when companies started to sell its products or services into foreign markets. or we can say that IB can be defined as the trade of products or services among two or more countries. for example- if manufacture of Car in US start to sell them in India or China or any other country then that car manufacturing company is doing international business.
The challenges which are present to IB are totally different from domestic trade. for example- If we have fast food business and sell beef burgers in US market then it does not mean that we can launch or sell that to in Indian market because of cultural and social challenges to that beef burger as in India Beef is not accepted or eaten by Indian people.
another factor or challenge is legal factor like In domestic country we have different employment law, business laws, Tax laws etc which differs in different countries.
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* Clearly define international business and present some examples of how its challenges differ from domestic...
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