Final answer:
Managers use their knowledge of macroeconomics to assess the nature and extent of the international business environment by understanding macroeconomic trends and indicators.
Step-by-step explanation:
In international business, managers use their knowledge of macroeconomics to assess the nature and extent of the international business environment. Macroeconomics is the study of the overall economy, including factors such as inflation, unemployment, economic growth, and exchange rates.
By understanding macroeconomic trends and indicators, managers can make informed decisions about expanding into new markets, setting prices, managing supply chains, and assessing the risks and opportunities of conducting business in different countries.
For example, if a manager sees that a country's economy is experiencing high inflation, they may need to adjust their pricing strategy to account for rising costs.