1. Interview a person who is involved with international business activities.

Prepare a
one-page report summarizing their experiences. What has the person observed about
economic activities in different countries?
I interviewed my GYMmates because his business is trading business such as import
and export of the equipment in South East Asia. I asked him what his experiences involving
international business. He said, "When I started my business, it was hard to export the
equipment from the Philippines to South East Asia. They have preferred the equipment from
Japan because of its advanced equipment. One day, I gave up my business idea, but
suddenly one of the buyers from Vietnam contacted me about exporting the equipment from
the Philippines to Vietnam at low prices. My business has begun to start from exporting 5 to
10 pieces of equipment to 100 to 300 pieces of equipment per week. The government
started to give me a tax called a tariff, and I followed all of the requirements of our
government. I decided to pay the tariff from their government and taxes for our government.
At that time I am the only person running my own business, but now I have 20 people
working for me. These 20 people are fired from their jobs because of the pandemic, but after
my business grows. I decided to hire them. I gave chances these people a new life. Since
my buyers in Vietnam demanding to me about additional exporting of the equipment, I asked
them what the products they had, and they said they can export the rice to me. So, I decided
to import rice from Vietnam and sell it to our country at a low price." I observed the needs
and wants of both buyers and sellers that can benefit each other. From exporting the
equipment to their country to meet the needs of their customers, I realized we also need,
especially rice.

2. Describe how scientific discoveries might improve the economic development of a

country.
Humans have long shared their skills. In between technological advancement and
economic growth may be traced back to the 18th and 19th centuries Industrial Revolution. It
was the first time a product was mass-produced on a wide scale, and it was made possible
by the steam engine's innovative technology. People have established more sophisticated
networks of commercial exchanges around the world as they produce more commodities.
Our present free market economy and the concept of capitalism both come from this time
period. Our modern economy and technology have progressed at the same time. The other
would not have been possible without the first. Telecommunications and digital technology
exports now account for a large portion of the US economy. Technology, not agriculture or
raw minerals, determines its place in the global economy.

3. Conduct Internet research about a country with a developing economy. How could its
natural resources, agricultural products, climate, or waterways be used to improve
the nation’s level of economic development?

Natural Resources
Natural resources include both renewable and nonrenewable resources in
ecosystem services. It is a source of the country's riches. Natural resources are what
make up other types of resources. They help to increase tax revenue and income and
 reduce poverty. Natural resource use generates jobs and is frequently the foundation of
underprivileged communities' livelihoods. Natural resources are vital, and they must be
managed sustainably. Governments are crucial in adopting policies to protect these
resources. Contribute to the nation's long-term economic growth as well as short-term
revenue.
Agricultural Products
It is the foundation of human existence as a food supply. It is a key economic
component in other areas of the economy as a provider of industrial raw materials.
Agriculture consumes a significant amount of natural resources, particularly land and
water. Its actions have a major impact on the availability and quality of these resources.
Agriculture has a considerable impact on ecosystems and non-agricultural flora and
fauna, particularly in terms of biodiversity, being a bio-based enterprise. Agricultural
activity, like most human activities, can have severe environmental consequences
(negative environmental externalities) such as soil deterioration and erosion, air and
water pollution, and biodiversity loss.
Climate Change
Its global impact poses numerous threats to a company's bottom line. Extreme
weather events can damage industries, supply chain activities, and other infrastructure
in the United States and other countries, as well as to interrupt transportation. Drought
raises the cost of water, which will likely affect raw materials and manufacturing costs.
Companies may be forced to deal with unpredictability in manufacturing, energy
transportation, and insurance resource pricing as a result of climate change.
Furthermore, some items may be phased out or the market may be lost. Coal mining
equipment or ski equipment for locations where there is no snow.

4. Why would a country with many natural resources have the potential for a strong
economy?
The country has many Natural Resources and can be strong and grow its economy.
Because the more exporting the products, the more income will come, and taxes can be
collected. More trading of products also can happen, and more mass production from its
Natural Resources can reduce the price of products. More workers will be hired, and
once the citizens had many works, they have a chance to more collecting of taxes.

5. How does international business create investment opportunities?

Many of the ways to global development highlighted thus far enable businesses to
reach the international market without having to invest in overseas plants and facilities.
Companies may seek to acquire a competitive advantage by investing directly in
enterprises in other nations as the market grows. The formal creation of a business on
foreign soil is known as a foreign direct investment (FDI). Building factories, sales
offices, and distribution networks in nations outside the company's native country to
serve local markets.