Ethical Legal and Political Barriers Wide ranging ethical legal and political

Ethical legal and political barriers wide ranging

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Ethical, Legal, and Political Barriers: Wide-ranging ethical, legal and political barriers include differing laws (and enforcement), tariffs, exchange controls, quotas, embargoes, political instability, and war. Social and Cultural Barriers: Ambiguous cultural and social barriers involve differences in spoken and body language, time, holidays and other observances, and customs. Infrastructure: Are the physical facilities that support a country's economic activities, such as railroads, highways, ports, airfields, utilities and power plants, schools, hospitals, communication systems, and commercial distribution systems. Exchange rate: Is the ratio at which one nation's currency can be exchanged for another nation's currency. Import tariff: Is a tax levied by a nation on goods imported into the country. Exchange controls: Are regulations that restrict the amount of currency that can be bought or sold.
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Matrix Three - Chapter Three The Dynamics of Business and Economics (Ferrell et. al 2016) Name: Quota: Is a restriction on the number of units of a particular product that can be imported into a country. Embargo: Is a prohibition on trade in a particular product. Dumping : Is the act of a country or business selling products at less than what it costs to produce them. Cartel: Is a group of firms or nations that agrees to act as a monopoly and not compete with each other, in order to generate a competitive advantage in world markets. Learning Objective 3: Specify some of the agreements, alliances, and organizations that may encourage trade across international boundaries. Trade Agreements, Alliances, and Organizations & International Monetary Fund General Agreement on Tariffs and trade (GATT): Is a trade agreement, originally signed by 23 nations in 1947, that provided a forum for tariff negotiations and a place where international trade problems could be discussed and resolved.
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