About This Chapter
International Business & Trade - Chapter Summary
One of the most significant and complex subjects in the field of contemporary business is international business and trade. If you would like to learn the basics of this subject, watch each of the helpful online video lessons in this chapter. These lessons will each teach you about different topics you need to understand in order to comprehend international business as a whole.
You can watch these lessons to learn about the laws and policies that govern international business and trade, as well as the organizations, treaties and agreements that govern trade between countries. Our lesson instructors will go over both the larger economics and political theories relevant to international trade and the practical, real-world issues. Some of the specific topics you will learn about are:
- The economics and politics of international trade
- United States trade policy and law
- International trade policy
- International trade organizations and agreements
- Regulations and restrictions of international trade
- Foreign labor and trade restrictions
- Influences on trade in global markets
- Internationalization and globalization
Each video contains convenient tags that will allow you to jump to the most important points in that particular lesson. The chapter's practice quizzes and final exam will help you test your understanding of these topics once you have completed the entire lesson. You can use your personal Dashboard to track your progress as you learn more about this subject.
1. The Economics & Politics of International Trade
We will discuss the economics & politics of international trade through the definition of open trade and its benefits and drawbacks. In addition, the ideas of competitive advantage and political patience will be shown as key indicators of global success.
2. U.S. Trade Policy & Law
American industries depend upon the government for protection against imports and to promote domestic exports. In this lesson, you will be exposed to an overview of U.S. trade policy and law.
3. International Trade Policy & Strategic Trade Policies
Governments sometimes intervene in international trade. In this lesson, we'll examine the arguments against strategic trade policy and discuss the policy instruments used by governments to influence international trade flows.
4. International Trade Organizations and Trade Agreements
International trade organizations and trade agreements have enormous power in the global trade environment. In this lesson, you will learn about the roles of the GATT, NAFTA, and the World Trade Organization.
5. International Trade Regulations & Restrictions
Importing and exporting are vital elements to a healthy U.S. economy. Businesses should be familiar with international laws regarding trade. This lesson defines imports and exports and discusses international trade regulations and restrictions.
6. Trade Restrictions and Foreign Labor
Discover why trade restrictions are sometimes used to combat cheap foreign labor. Learn about outsourcing, job protection, and infant industry strategies.
7. Treaties Under Article II of the U.S. Constitution
Treaties are an important part of international law. A treaty is a legally binding agreement made between two or more government entities. This lesson explains the difference between bilateral and multilateral treaties.
8. Forces that Affect Trade in Global Markets
The global marketplace is diverse. While diversity provides opportunity, it also provides challenges. In this lesson, you'll learn about the forces that affect trade in the global market. You'll also have a chance to take a short quiz after the lesson.
9. Internationalization & Globalization of Businesses
When companies decide to do international business, they have a wide variety of methods they can use to actually enter the market. This lesson will discuss those different methods and analyze how they work in an international context.
10. Political & Economic Systems in Global Business
Understanding the different political and economic systems in global business can be a difficult task. We will identify the major types of political and economic systems in which companies operate across the world and the special challenges posed by doing business in diverse settings.
11. Regional Integration: Definition, Influence & Purpose
Regional integration is when a group of countries get together and develop a formal agreement regarding how they will conduct trade with each other. There are many different levels of involvement, and in this lesson, we will review the types and how a manager should understand and match them to his or her company's international needs.
12. The Changing Landscape of the Global Market
The global market is still developing, and a market that is developing is dynamic. The constant change offers opportunities and presents risks to countries and their domestic industries. In this lesson, you'll learn about some of these risks and opportunities.
13. The Global Marketplace: Definition & Overview
We have been on the fast track to a global market, but are we there yet? In this lesson, we will define global market and discuss some of its key concepts. A short quiz follows the lesson.
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Other chapters within the NES Business Education (309): Practice & Study Guide course
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- Business Law & Ethics
- Taxation for Corporations
- Business Accounting Overview
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- Consumer Credit
- Personal Insurance Coverage
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- Business Software
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