Revision Notes For Class 11 Business Studies Chapter 11 International Business I

International business – I refers to the exchange of goods and services that functions between the countries. This chapter covers the most significant concepts – meaning of international business, reason for international business, international business vs domestic business, scope of international business – merchandise exports and imports, service exports and imports, licencing and franchising, foreign investments, tourism and transportation, business services, benefits of international business – benefits to nations, benefits to firms, modes of entry into international business, exporting and importing, contract manufacturing – merits and demerits, joint ventures, wholly-owned subsidiaries, India’s involvement in world business – India’s foreign trade in goods, India’s trade in services.

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