GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A company is worried that about the norms and customs of a country would need to consider which component of the international business environment?
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Geography
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Culture
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Economy
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Infrastructure
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Explanation:
Detailed explanation-1: -A tariff is a tax levied on an imported good with the intent to limit the volume of foreign imports, protect domestic employment, reduce competition among domestic industries, and increase government revenue.
Detailed explanation-2: -In a free trade agreement, a group of countries agrees to lower their tariffs or other barriers to facilitate more exchanges with their trading partners. This allows all countries to benefit from lower prices and access to one another’s resources.
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