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.