Question: 3) What effect does a countrys economic development have on international business? 4) How do political issues affect international business? 5) What is an import

3) What effect does a countrys economic development have on international business?

4) How do political issues affect international business?

5) What is an import tariff? A quota? Dumping? How might a country use import tariffs and quotas to control its balance of trade and payments? Why can dumping result in the imposition of tariffs and quotas?

6) How do social and cultural differences create barriers to international trade? Can you think of any additional social or cultural barriers (other than those mentioned in this chapter) that might inhibit international business?

8) At what levels might a firm get involved in international business? What level requires the least commitment of resources? What level requires the most?

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