Chapter 8 Learning Outcomes

Chapter 8 Learning Outcomes - Chapter 8 Learning Outcomes 1...

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Chapter 8 Learning Outcomes 1- Discuss the impact of global business and the trade rules and agreements that govern it. Global business impacts the whole world as the US invests in many other countries and other countries in best in the US. This is the most important part of conducting global business where companies become multinational and they represent people from a lot of countries. The trade rules and agreements that govern it are: trade barriers and trade agreements. Trade barriers as the word expresses are when a government imposes regulations that increase the cost and restrict the number of imported goods. There are two general kinds of barriers to trade which are tariffs and nontariff barriers. Tariff barriers are a direct tax on imported goods, where nontariff barriers are nontax methods of increasing the cost or reducing the volume of imported goods. Trade agreements are agreements made by companies to protect trade. For instance, there is the General agreement on Tariffs and Trade which regulated the trade among more than 120 countries by “substantial reduction of tariffs and other trade barriers and the elimination of preferences. There are also regional trade zones in which tariff and nontariff barriers are reduced or eliminated by treaties or agreements among countries within the trading zone. There are also other agreements like NAFTA, CAFTA-DR, UNSAUR, ASEAN and APEC .
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