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International Business: Canadian Perspective

International Business: Canadian Perspective. International Trade Definitions. Import A good/service brought into a country for sale Export A good/service produced in one country and sold in another Trade Deficit When a country pays more for imports than it earns from selling exports

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International Business: Canadian Perspective

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  1. International Business: Canadian Perspective

  2. International Trade Definitions • Import • A good/service brought into a country for sale • Export • A good/service produced in one country and sold in another • Trade Deficit • When a country pays more for imports than it earns from selling exports • Trade Surplus • When a country earns more from selling exports than it pays for imports

  3. Barriers to International Business • Tariffs • A tax on certain goods being imported into a country • Standards of Quality • Government sets rules about the quality of goods sold in Canada. • High standards means producers pay higher costs to make better products

  4. Barriers • Cost of Shipping • Doing business around the world means shipping products around the world • Shipping costs money • Currency Exchange Rates • $100 US is worth $99.23 Canadian today, but tomorrow that could change • Businesses can lose money based on changes in exchange rate

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