International Trade Flashcards
1
Q
Tariffs
A
A tariff is a tax on imports or exports. If imports are taxed highly than the product from abroad is taxed highly.
2
Q
Trade blocs
A
An agreement between countries or groups of companies to reduce trade barriers.
3
Q
Use of the internet
A
Businesses can use the internet to sell products online, these can be sold worldwide.
4
Q
Changing the marketing mix
A
Businesses can choose to trade internationally, but also adapt their marketing mix in order to be successful.
