1.5 Business and the international economy

Globalisation:

• concept of globalisation
• opportunities and threats of globalisation for businesses.

The importance and growth of multinationals:

• benefits of a business becoming a multinational
• benefits to a country and/or economy where a multinational company is located
• possible drawbacks to a country and/or economy where a multinational is located.

Calculate exchange rates in business contexts, including relevant percentages and percentage changes.

The impact of exchange rate changes:

• on international competitiveness
• on importers and exporters.