Title: Explain the components of the international trading environment.
Course: Opportunities in Global Trade (12056-I) > Section: Understanding Marketing Concepts and Strategies in the Global Marketplace

Explanation should include the four major categories of the international trading environment:

- Geography—the climate, terrain, seaports, and natural resources of a country
- Culture and society—the accepted behaviors, customs, and values of a society to include language, education, religion, values, customs, and social relationships
- Politics and law—the type of government, the stability of the government, and government policies toward business; and anti-corruption and anti-bribery laws, import and export regulations, labor laws, intellectual property protection and licensing, product safety, and consumer protection
- Economy—the types of industries and jobs in the country and the stability of the country’s currency

Process/Skill Questions:

- What factors affect consumer behavior?
- How does geography create international business opportunities?
- How might religious beliefs and culture affect international business? How can consumer demographics affect international business?
- What are the implications of political unrest on international business?
- How can the economic conditions of a country affect business decisions?
- What are some current international ethical and legal issues in the news?
- What do intellectual property protections include? How can the U.S. Patent and Trademark Office help ensure these protections are followed?
- Why should multinational companies follow foreign licensing requirements?
- What are some accepted practices of conducting business in other countries that would be illegal in the United States? Why might a practice be accepted in one country but not another? How does this discrepancy affect global commerce?
- Where would a business owner find current foreign licensing requirements?