International Business
Class 11 · Business Studies
4 ideas in Class 11 Business Studies, explained in plain words, with games and quizzes to practise.
Meaning and Need
Part of: Global Trade Basics
International business trades beyond borders; import, export, entrepot; earns forex, uses surplus, widens markets.
Why it matters. World markets open. Forex earned.
Key words
- International business
- : Trade of goods and services beyond national borders.
- Import
- : Buying goods from a foreign country into the home country.
- Export
- : Selling home goods to buyers in foreign countries.
- Entrepot
- : Importing goods to re-export them to another country.
- Forex earning
- : Foreign currency gained by selling abroad.
Try it in two minutes
- Cross borders?
- Import, export?
- Widen markets?
Try at home. List imported goods.
Export Steps
Part of: Global Trade Basics
Exporter gets order, licence, arranges finance, produces, packs, clears customs, ships, banks documents, collects payment.
Why it matters. Steps ordered. Payments secured.
Key words
- Export order
- : The foreign buyer's confirmed request starting the export chain.
- Export licence
- : The permit allowing specified goods to leave the country.
- Customs clearance
- : The official passing of goods through port checks and duty.
- Shipping documents
- : The banked papers against which export payment is collected.
Try it in two minutes
- Get order, licence.
- Ship via customs.
- Collect via bank.
Try at home. Order export steps.
Import Procedure
Part of: Import and Support
Importer enquires, licences, orders, arranges forex, clears customs, pays duty, takes delivery.
Why it matters. Steps ordered. Duties paid.
Key words
- Import enquiry
- : The buyer's request for price and terms from foreign sellers.
- Import order
- : The confirmed purchase placed on a foreign supplier.
- Import licence
- : The permit allowing specified goods into the country.
- Duty payment
- : The tax paid at customs before taking delivery of goods.
Try it in two minutes
- Enquire and order.
- Arrange forex.
- Clear and deliver.
Try at home. Order import steps.
Trade Support and WTO
Part of: Import and Support
Export promotion councils, EPCG, zones aid exporters; WTO sets fair global trade rules.
Why it matters. Help used. Rules known.
Key words
- Export promotion council
- : A body guiding and aiding exporters of its product group.
- Export zone
- : A marked area with easy rules to push exports.
- WTO
- : The world body setting fair rules for trade between nations.
- Trade barrier
- : A duty or rule restraining imports to guard home industry.
Try it in two minutes
- Find councils.
- Use zones.
- Follow WTO rules.
Try at home. Find a trade zone.
What your child will practise
- Export Steps: Desert Puzzle (Clue Puzzle)
- Export Steps: Desert Quick Fire (Quick Fire)
- Import Procedure: Space Puzzle (Clue Puzzle)
- Meaning and Need: Candy Quest (Flip and Match)
- Trade Support and WTO: Jungle Quick Fire (Quick Fire)
- Quiz: Export Steps (8 questions)
- Quiz: Import Procedure (8 questions)
- Quiz: Meaning and Need (8 questions)
- Quiz: Trade Support and WTO (8 questions)