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International Business Basics The Fundamentals of International Trade

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What is international business? <ul><li>It is all the business activities </li></ul><ul><li>to create, ship, and sell goods </li></ul><ul><li>and services across national borders. </li></ul><ul><ul><ul><li>International trade </li></ul></ul></ul><ul><ul><ul><li>Foreign trade </li></ul></ul></ul><ul><ul><ul><li>Global business </li></ul></ul></ul>

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Benefits <ul><li>Provides raw materials & parts </li></ul><ul><li>Provides global opportunities </li></ul><ul><li>Improves political relations </li></ul>

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Imports and Exports <ul><li>Imports - bought from other countries </li></ul><ul><li>Exports - sold to other countries </li></ul>

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Trade Barriers <ul><li>Import taxes (tariffs) </li></ul><ul><li>Quotas </li></ul><ul><li>Embargoes </li></ul>

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International Business Environment <ul><li>4 major categories </li></ul>

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Geographic Conditions <ul><li>Climate </li></ul><ul><li>Terrain & seaways </li></ul><ul><li>Natural resources </li></ul><ul><li>Agricultural products </li></ul>

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Culture & Social Factors <ul><li>Language </li></ul><ul><li>Education </li></ul><ul><li>Religion </li></ul><ul><li>Values & customs </li></ul><ul><li>Social relationships </li></ul>

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Political & Legal Factors <ul><li>Type of government </li></ul><ul><li>Political stability </li></ul><ul><li>Government policies toward business </li></ul>

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Economic Conditions <ul><li>Type of economic system </li></ul><ul><li>Education level </li></ul><ul><li>Types of industries </li></ul><ul><li>Technology </li></ul>