What Are Some of the Issues a Manager of an International

question 43

Essay

What are some of the issues a manager of an international business must confront that a manager of a domestic business never confronts?

---

Definitions:

Opportunity Cost

The benefit missed out on when choosing one alternative over another, emphasizing the impact of choice on resource allocation.

Limited Resources

The finite availability of inputs such as labor, materials, and capital, which restricts production capabilities and economic growth.

Unlimited Wants

The concept in economics that human desires for goods and services exceed the available resources, leading to perpetual states of decision making and prioritization.

Economizing Behavior

The tendency of individuals or organizations to attempt to minimize costs or expenses and maximize value.