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I.B.O – 01
International Business Environment IGNOU IBO 01 Solved
Assignment 2023-24
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NOTE: All questions are compulsory.
Q1. a) Define international economic environment. Discuss the
major economic indicators of international economic environment which influence
the foreign market decisions with examples.
The
international economic environment refers to the overall economic conditions
and factors that affect countries' economies and their interactions with each
other in the global marketplace. It encompasses various aspects such as trade,
finance, investment, exchange rates, economic policies, and global economic
institutions. Understanding the international economic environment is crucial
for businesses and policymakers as it directly influences their decisions
regarding trade, investment, and market expansion strategies.
Foreign market decisions are influenced by the GDP growth rates of countries. For example, if a country experiences robust GDP growth, it may signal a growing consumer market and increased demand for foreign goods and services.
High inflation
can erode purchasing power and decrease consumer demand, affecting foreign
market decisions. For instance, companies may adjust their pricing strategies in
response to inflationary pressures in foreign markets.
Exchange rates
determine the value of one currency in terms of another and play a crucial role
in international trade and investment.
Fluctuations in
exchange rates impact the competitiveness of exports and imports, affecting
foreign market decisions. For example, a depreciation of a country's currency
can make its exports cheaper and more attractive to foreign buyers.
Changes in
interest rates by central banks can impact foreign market decisions by
affecting the cost of capital and investment attractiveness. For instance,
lower interest rates may stimulate borrowing and investment in foreign markets.
A positive
trade balance (surplus) indicates that a country exports more than it imports,
while a negative trade balance (deficit) implies the opposite. Trade balances
influence foreign market decisions by indicating market demand and trade
competitiveness.
Political
stability and the policy environment influence investor confidence and business
operations in foreign markets.
Uncertainty or
instability in politics and policies can deter foreign investment and trade.
For example, changes in regulations or trade policies may prompt companies to
reassess their market strategies.
Global economic
trends, such as economic growth rates, geopolitical events, and major economic
crises, impact the overall international economic environment.
These trends
influence foreign market decisions by shaping market opportunities, risks, and
investor sentiment. For instance, a global recession may lead companies to
prioritize markets with stronger growth prospects.
In summary, the
international economic environment is multifaceted, comprising various economic
indicators that influence foreign market decisions. Businesses and policymakers
closely monitor these indicators to assess market conditions, identify
opportunities, and mitigate risks in the global marketplace.
b) Explain the impact of elements of culture on a firm's
international business operations with examples.
Q2. What is Balance of payments? Describe the components of
balance of payments with hypothetical examples. How do deficit and surplus in
Balance of payments affect international trade? Discuss with suitable examples.
Q3.
Distinguish between the following:
a) Product Price Ratio and Factor Price Ratio
b) Added Networks Services and Internet Services
c) Consumer Surplus and Producer Surplus
d) Globalization and Glocalization
Q4.
Comment on the following statements:
a) An international business firm should not monitor the foreign
country's trade, monetary and balance of payments account.
b) A major problem with laws in different countries is that the
legal systems of the world are harmonized.
c) Globalization has not influenced the Indian economy.
d) FDI does not help in accelerating the rate of economic growth
of the host country.
Q5.
Write short notes on the following:
a) The Heckscher-Ohlin-Samuelson (HOS) Theorem
b) Trade Related Investment Measures (TRIMS)
c) Special Drawing Rights
d) Alternative Dispute Resolution
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