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Differences Between Domestic and International Business (International…
Differences Between Domestic and International Business
Domestic Business
Includes all trade within a country (Surbhi, 2016)
Operates in one country (Surbhi, 2016)
Low quality standards (Surbhi, 2016)
Low amount of investment required (Surbhi, 2016)
One monetary value (Surbhi, 2016)
Not many barriers (Surbhi, 2016)
Customers tend to be similar to sellers (Surbhi, 2016)
Easy to perform research (Surbhi, 2016)
Factors of production are free to move (Surbhi, 2016)
International Business
Zambia (Selected Country)
Culturally: Same sex individuals hold hands when they walk as a sign of friendship (Zambia: The Facts, 2017)
Population totals 15.972 million (The World Factbook, 2018).
Currency/Code: Zambian Kwacha (ZMK) (Zambia, n.d.).
15% unemployment rate (The World Factbook, 2018).
Only 63.4 % of adults are considered literate (The World Factbook, 2018).
Life expectancy of 52.7 years of age (The World Factbook, 2018).
Trade of goods with foreign entities.(Surbhi, 2016)
Operations include the entire world (Surbhi, 2016)
Strict quality standards (Surbhi, 2016)
Must deal with many forms of currency (Surbhi, 2016)
Large amounts needed to invest (Surbhi, 2016)
Difficult amount of restrictions (Surbhi, 2016)
Customers of many different backgrounds (Surbhi, 2016)
Hard to perform research (Surbhi, 2016)
Cannot move factors of production (Surbhi, 2016)