International business involves creating, shipping, and selling goods and services across national borders. It provides benefits like access to raw materials and parts, global opportunities, and improved political relations. International trade includes imports, which are products bought from other countries, and exports, which are products sold to other countries. However, trade barriers like tariffs, quotas, and embargoes can impact international business. The key factors of the international business environment are geographic conditions, culture and social factors, political and legal systems, and economic conditions in different countries.

1. International Business Basics The Fundamentals of International Trade

2. What is international business? It is all the business activities to create, ship, and sell goods and services across national borders. International trade Foreign trade Global business

3. Benefits Provides raw materials & parts Provides global opportunities Improves political relations

4. Imports and Exports Imports - bought from other countries Exports - sold to other countries

5. Trade Barriers Import taxes (tariffs) Quotas Embargoes

6. International Business Environment 4 major categories

7. Geographic Conditions Climate Terrain & seaways Natural resources Agricultural products

8. Culture & Social Factors Language Education Religion Values & customs Social relationships

9. Political & Legal Factors Type of government Political stability Government policies toward business

10. Economic Conditions Type of economic system Education level Types of industries Technology