Allows goods and services to be exchanged across borders without tariffs and restrictions

Restrictions to free trade

A limit placed by the government on the amount of an item that can be imported or exported.

A tax that a government places on certain imported goods

When the government stops the import or export of a product completely.

Doing business in other countries requires knowledge of what factors (mark all that apply)

Which would not be an example of geography?

True or False

Waterways are just like big water slides that businesses send packages down.

What are not examples of cultural influences? (Choose all that apply)

What were 3 factors of economic development?

True or False

All countries have the same freedoms the U.S. has with business.

Which type of trade barriers involve the government?

This trade barrier can be used to keep supply low so prices stay at a certain level.

This trade barrier can lower the demand for a product and reduce the quantity of that imported product.

This trade barrier can sometimes be used to shield infant industries.

An increased cost due to this trade barrier may cause you to buy a U.S. product at a cheaper price.

This trade barrier may be used to protect a country's own industries from international competition.

This trade barrier may be used to express disapproval of the actions or policies of another country.

Two examples of these would be NAFTA and USMCA

True or False

Infrastructure is a significant factor that affects the economic development of a country.

True or False

An informal trade barrier is created by government actions.

Religion is an element of the ________ component of the international business environment

From the FTA video we watched in class, how many trade agreements does the United States have?