After you have read and studied this chapter, you should be able to:

1. Discuss the growing importance of the global market and the roles of comparative advantage and absolute advantage in international trade.
2. Explain the importance of importing and exporting, and understand key terms used in international business.
3. Describe the current status of the United States in global business.
4. Illustrate the strategies used in reaching global markets.
5. Evaluate the forces that affect trading in world markets.
6. Debate the advantages and disadvantages of trade protectionism.
7. Explain the role of multinational corporations in global markets.
8. Explain how technology affects global e-commerce.