Business 101: Free Markets

Business 101: Free Markets

For our resource, a huge thanks to McGraw Hill Education’s, Understanding Business 11th Edition. This is our required textbook for our business students at Clark College. Being that this is my office hour, you can follow along with me. This is Business 101: Free Markets.

Here are the definitions I covered:

Free Trade– the movement of goods and services among nations without political or economic barriers.

Comparative Advantage Theory– theory that states that a country should sell to other countries those products that it produces most effectively and efficiently, and buy from other countries those products that it cannot produce as effectively or efficiently.

Multinational Corporation– an organization that manufactures and markets products in many different countries and has multinational stock ownership and multinational management.

World Trade Organization– the international organization that replaced the General Agreement on Tariffs and Trade and was assigned the duty to mediate trade disputes among nations.

DISCLAIMER: These are my thoughts and views on business, and is not affiliated in any way with Clark College.

I write this because my business is personal because this service is for the advancement of all humanity. My failures and successes are for your gain. No strings attached.

Nathan A. Webster, MBA

I was born, raised and currently residing in Vancouver, WA. Grateful to have an entrepreneurial life that allows me to use my God-given talents to help others pursue their passion. I'm blessed to be educated (MBA-Operations) veteran (US Marine Corps) who enjoys the community with all my family members (blood and adopted).

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