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INTERNATIONAL TRADE, risks to trade internationally:, reason to trade…
INTERNATIONAL TRADE
is the process of importing and exporting of goods and services between countries
G. and S.
Can be:
INVISIBLE
VISIBLE
Export
: product/service sold from its country to any other country
Import
: product/service brought into a country from the global market
ECONOMIC INDICATORS
INFLATION
PROTECTIONISM
TRADING BLOCS
GDP
risks to trade internationally:
economic
legal difficulites
language barriers
cultural differences
politcal instability
reason to trade internationally
:
4) to increase profits
3) to increase choice for consumers
2) to get them at a cheaper price;
1) to purchase goods they can't produce themselves;
Incoterms
:
series of contractual terms; how to ship the goods and how to split obligations