Global business is the study of how society chooses to employ resources to produce goods and services and distribute them for consumption among various competing groups and individuals.

Question

Quizplus · Accepted Answer

Global business refers to the exchange of goods, services, technology, capital, and/or knowledge across national borders and at a global or transnational scale. It involves understanding the international trade environment, including economic, political, and cultural differences. The definition provided more accurately describes economics, which is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.

Global Business Is the Study of How Society Chooses to Employ