BUSINESS ADMINISTRATION
INTERNATIONAL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Government regulations
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Grid power standards
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operating system
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Measurement System
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Detailed explanation-1: -Demand. Demand for particular products or services is an essential component of international trade. For example, the demand for oil impacts the price and the trade balance of oil-exporting and oil-importing countries alike.
Detailed explanation-2: -The most direct barrier to trade is an embargo– a blockade or political agreement that limits a foreign country’s ability to export or import. Embargoes still exist, but they are difficult to enforce and are not common except in situations of war. The most common barrier to trade is a tariff–a tax on imports.
Detailed explanation-3: -Pros. Trade increases national welfare by lowering prices for consumers, adding product variety, and contributing to economic growth. If part of a selective and proactive industrial policy, regulating international trade can help developing countries support exporting firms and workers.