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Ch 47: WEST Business & Marketing Education: International Trade

About This Chapter

Use the materials in this chapter to brush up on the laws concerning international trade. Get ahead on your preparations for the WEST Business and Marketing Education exam by watching these video lessons taught by subject experts.

WEST Business & Marketing Education: International Trade - Chapter Summary

Re-familiarize yourself with the laws and practices of international trade throughout the global economy by watching these videos. To better answer questions on the WEST Business and Marketing Education exam, spend some time studying these concepts:

  • Obstacles and strengths of global trade
  • Laws and policies governing U.S. trade practices
  • Restrictions, agreements, and regulations for international trade
  • Trade protectionism pros and cons
  • Relationship between domestic prices and imported products

Unlike other fields that don't change significantly, business and marketing education topics can change due to new laws, shifts in public policies, and other factors. Using our study guide can help you get reacquainted with the concepts you learned in college as well as teach you about recent trends and transitions in the industry. You can watch our short video lessons on practically all of your mobile devices, allowing you to take our study materials everywhere you go. After watching the video lessons and reading over the keywords in the lesson transcripts, try out the lesson quizzes to make sure you understand all of the presented information. Replying to the questions on the chapter exam might help you practice for the WEST Business and Marketing Education exam.

WEST Business & Marketing Education: International Trade Objectives

Licensed Washington educators can pursue endorsements to teach specific subjects, such as business and marketing. To earn this particular subject endorsement, though, individuals must pass the WEST Business and Marketing Education exam. On this multiple-choice exam, individuals will be asked to provide answers to 110 questions. The goal of this exam is to measure each teacher's knowledge concerning such topics as organizational management, human resources, business law, marketing, and information technology. Approximately 17% of the entire exam has been designed with questions about international business and economics, so increasing your knowledge about international trade can prepare you to answer many of the questions about this topic correctly.

11 Lessons in Chapter 47: WEST Business & Marketing Education: International Trade
Test your knowledge with a 30-question chapter practice test
What is Global Trade? - Definition, Advantages & Barriers

1. What is Global Trade? - Definition, Advantages & Barriers

Global trade of goods and services are worth trillions of dollars each year. In this lesson, you'll learn about global trade and its advantages, as well as barriers to trade. A short quiz follows.

The Economics & Politics of International Trade

2. 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.

U.S. Trade Policy & Law

3. 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.

International Trade Policy & Strategic Trade Policies

4. 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.

International Trade Organizations and Trade Agreements

5. 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.

International Trade Regulations & Restrictions

6. 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.

Trade Restrictions and Foreign Labor

7. 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.

Treaties Under Article II of the U.S. Constitution

8. 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.

Forces that Affect Trade in Global Markets

9. 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.

Advantages and Disadvantages of Trade Protectionism

10. Advantages and Disadvantages of Trade Protectionism

Countries want to win the game of international trade by exporting more than they import. Some countries pursue trade protectionism to do this. In this lesson, you'll learn about the advantages and disadvantages of this strategy and related concepts.

Tariffs and Quotas: Effects on Imported Goods and Domestic Prices

11. Tariffs and Quotas: Effects on Imported Goods and Domestic Prices

Explore what tariffs and quotas are and what effect they can have on the supply of imported goods. Find out how these two economic tactics can influence the prices you pay for many of the everyday items you may purchase.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the WEST Business & Marketing Education (038): Practice & Study Guide course

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