This document summarizes key concepts about international business and globalization from a textbook chapter. It defines important terms like imports, exports, and per capita income. It also outlines several forces driving globalization like new technologies and competitive pressures. Additionally, it discusses major world marketplaces in regions like North America, Europe, and Asia and examines trade agreements and competitive advantages among nations.

1. CHAPTER 4 Understanding the Global Context of Business Copyright 2004 Prentice Hall, Inc.

3. What Is Globalization? Process by which the world economy is becoming a single interdependent system Copyright 2004 Prentice Hall, Inc.

4. What Are Imports and Exports? Imports are products made or grown abroad but sold domestically, while exports are products made or grown domestically but shipped and sold abroad Copyright 2004 Prentice Hall, Inc.

6. The Price of Global Communication Copyright 2004 Prentice Hall, Inc.

8. The North American Marketplace and the Nations of NAFTA Copyright 2004 Prentice Hall, Inc.

11. Europe and the Nations of the European Union Copyright 2004 Prentice Hall, Inc.

12. The Nations of ASEAN Copyright 2004 Prentice Hall, Inc.

13. The Major Trading Partners of the U.S. Copyright 2004 Prentice Hall, Inc.

15. Attributes of National Competitive Advantage Copyright 2004 Prentice Hall, Inc.

20. Canadian vs. U.S. Prices Copyright 2004 Prentice Hall, Inc.