BUSI 604 Chapter Notes - Chapter 3: Mixed Economy, Gross Domestic Product, Planned Economy
Document Summary
International trading: generates business and government revenue and promotes varying levels of trust between trading partners. If imposed by a government on the country who is the main producer of an item, consumers will have to pay higher prices for hard-to-find items. Political issues that significantly impact global business (3: government intervention in trade, government promotion of trade, government restriction of trade. Trade deficit: occurs when a country is importing more than it is exporting. A loan in which the exporter is covered, but the value of the cover will be less than the value of the contract. Foreign trade zones: alleviates some of the costs associated with free trade in the rapidly increasing global economic environment, created with the enactment of the u. s. foreign trade zones act of 1934. World trade organization (wto: created by several countries in order to monitor trade around the world.