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Ch06

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  • 1. Importing, Exporting, and Trade Relations 6-1 Importing Procedures 6-2 Exporting Procedures 6-3 Importance of Trade Relations 6-4 The Nature of Competition CHAPTER 6
  • 2. LESSON 6-1 Importing Procedures
    • GOALS
    • Explain the importance of importing.
    • Identify the four steps for importing.
  • 3. Importance of Importing
    • Product demand
    • Lower costs
    • Production inputs
  • 4. Importing Activities
    • STEP 1: Determine demand
    • STEP 2: Contact suppliers
    • STEP 3: Finalize purchase
    • STEP 4: Receive goods
  • 5. Import Assistance
    • Customs and Border Protection (CBP)
    • Food and Drug Administration (FDA)
    • U.S. Department of Agriculture (USDA)
  • 6. LESSON 6-2 Exporting Procedures
    • GOALS
    • Identify the steps of the exporting process.
    • Describe the exporting of services.
  • 7. The Exporting Process
    • STEP 1: Find potential customers
    • STEP 2: Meet the needs of customers
    • STEP 3: Agree on sales terms
    • STEP 4: Deliver products or services
    • STEP 5: Complete the transaction
  • 8. Sales Terms
    • Free on board (FOB)
    • Cost, insurance, and freight (CIF)
    • Cost and freight (C&F)
  • 9. Export Documents
    • Bill of lading
    • Certificate of origin
  • 10. Obstacles to Exporting
    • No company representatives in foreign countries
    • Products not appropriate for foreign consumers
    • Insufficient production facilities to manufacture enough goods for exporting
    • High costs of doing business in other countries
    • Difficulty understanding foreign business procedures
    • Difficulty obtaining payment from foreign customers
  • 11. Commonly Exported Services
    • Hospitality
      • Hotels, food service
    • Entertainment
      • Movies, music, television production, amusement parks
    • Financial services
      • Insurance, real estate
  • 12. LESSON 6-3 Importance of Trade Relations
    • GOALS
    • Identify the economic effects of foreign trade.
    • Describe the types of trade agreements between countries.
  • 13. The Economic Effect of Foreign Trade
    • Balance of trade
      • Trade deficit
      • Trade surplus
    • Balance of payments
      • Positive, or favorable
      • Negative, or unfavorable
  • 14. Trade Agreements
    • Promote economic development
    • Encourage international business activities
  • 15. The World Trade Organization
    • Deals with rules of trade between nations
    • Helps producers of goods and services, exporters, and importers conduct their business
    • Encourages international trade
  • 16. Regional Cooperation
    • Economic community
    • Common market
  • 17. Barter Agreements
    • Direct barter
    • Countertrade
  • 18. Free-Trade Zones
    • An area designated by a government for duty-free entry of nonprohibited goods
    • Commonly located at a point of entry into a nation
  • 19. LESSON 6-4 The Nature of Competition
    • GOALS
    • List factors that affect international business competition.
    • Explain the types of competitive market situations.
  • 20. International Business Competition
    • Factors affecting competition
      • Number of companies
      • Business costs
      • Product differences
    • Benefits and concerns of competition
  • 21. Types of Competitive Situations
    • Pure competition
    • Monopolistic competition
    • Oligopoly
    • Monopoly
  • 22. Competitive Market Situations
    • Monopolistic Competition
    • Many sellers
    • Slightly different product
    • Oligopoly
    • Few sellers
    • Slightly different product
    • Pure Competition
    • Many sellers
    • Same product
    • Monopoly
    • One seller
    • Usually government regulated