Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
701 views
in Business Studies by (56.1k points)

Explain the benefits of international business.

1 Answer

+1 vote
by (49.8k points)
selected by
 
Best answer

The advantages or benefits of international business can be classified into:

1. Advantages or benefits to the trading nations. 

2. Advantages or benefits to the participating firms.

Advantages Or Benefits To The Trading Nations

1. Regional Specialisation: International business contributes to territorial or regional specialisation or division of labour.

2. Fuller and More Efficient Utilisation of Available Resources: By enabling a country to concentrate on the production of those goods for which its resources are best suited, international business facilitated fuller and better utilization of the available resources.

3. Expansion of Domestic Industries: By widening the markets for goods, international business contributes to the expansion of domestic industries of a country.

Advantages Or Benefits To The Participating Firms

1. Growth of Business: International business contributes to the growth of business of participating firms by encouraging large-scale production and large-scale international business. 

2. Improved business Vision: International business helps business firms to have improved business vision and become increased export business. 

3. Higher Profits to Participating Firms: International business offer better prospects for higher profits to firms participating in international business through wider markets and better prices.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...