Explain the components of international trading environment?
Answers
Answer:
international trading environment:
Geography (the climate, terrain, seaports, and natural resources of a country)
Culture and Society (the accepted behaviors, customs, and values of a society to include language, education, religion, values, customs, and social relationships)
Politics and Law (the type of government, the stability of the government, and government policies toward business; and anti-corruption and anti-bribery laws, import and export regulations, labor laws, intellectual property protection and licensing, product safety, and consumer protection)
Economy (the types of industries and jobs in the country and the stability of the country’s money supply)
The international trading between different countries has a particular environment which consists different components,such as;
1) The market demand in the international scale is the most necessary component to establish an international trading.
2) The transportation sectors are also vital components.
3) The export and import laws and regulations which are provided by different governments of different countries.
4) Currency prices and stock exchange are important components.
And many more.