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56 56 Doing Business in Global Markets L E A R N I N G O B J E C T I V E S » After you have read and studied this chapter, you should be able to LO 3–1 Discuss the importance of the global market and the roles of comparative advantage and absolute advantage in global trade. LO 3–2 Explain the importance of importing and exporting, and understand key terms used in global business. LO 3–3 Illustrate the strategies used in reaching global markets, and explain the role of multinational corporations. LO 3–4 Evaluate the forces that affect trading in global markets. LO 3–5 Debate the advantages and disadvantages of trade protectionism. LO 3–6 Discuss the changing landscape of the global market and the issue of offshore outsourcing. 3

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