New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

International Business - Chapter 5

by: Anna Notetaker

International Business - Chapter 5 MGMT 4710

Marketplace > Middle Tennessee State University > Management > MGMT 4710 > International Business Chapter 5
Anna Notetaker
GPA 3.62

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

Trades and Tariffs
International Business
Cheryl Ward
Class Notes
25 ?




Popular in International Business

Popular in Management

This 1 page Class Notes was uploaded by Anna Notetaker on Friday September 16, 2016. The Class Notes belongs to MGMT 4710 at Middle Tennessee State University taught by Cheryl Ward in Fall 2016. Since its upload, it has received 24 views. For similar materials see International Business in Management at Middle Tennessee State University.

Similar to MGMT 4710 at MTSU

Popular in Management


Reviews for International Business - Chapter 5


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 09/16/16
International Business Week 4 Chapter 5  Trade Deficit – nation imports more than it exports.  Trade Surplus – nation exports more than it imports.  Balance of Trade – a country has a trade surplus or deficit.  Exporting – selling abroad.  Importing – buying abroad.  Mercantilism – main goal was to increase the nation’s wealth by imposing government regulation concerning all of the commercial interests. Maximized by limiting imports via tariff and maximizing exports. Wealth of a nation depends primarily on the possession of precious metals such as gold or silver. This cannot be maintained forever because global economy would become stagnant – since countries would export, but not import.  Absolute Advantage: nation gains by specializing in economic activities in which it has an advantage. o Free trade – buying/selling of goods and services with little or no government intervention.  Comparative Advantage: advantage in one economic activity that a nation enjoys over others. o Opportunity Cost – what you have to give up in order to make a choice. o The theory of Comparative Advantage – nation should specialize in producing the good in which they have the lowest opportunity cost.  International Product Life Cycle Theory – introduction, growth, maturity, and decline. Dynamic theory that accounts for changes in the pattern of trade over time. o Product is introduced to a country and growth begins. As more want the items, demand and sales fall off over time, which is maturity. Soon, the sales will decline.  Tariff Barriers – discouraging imports by placing a tax on imported goods. o Non-Tariff Barriers – discourages imports by other taxes:  Subsidies  Import Quotas  Voluntary Export Restraints  Local Content Requirements  Administrative Policies  Anti-dumping Duties


Buy Material

Are you sure you want to buy this material for

25 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"

Allison Fischer University of Alabama

"I signed up to be an Elite Notetaker with 2 of my sorority sisters this semester. We just posted our notes weekly and were each making over $600 per month. I LOVE StudySoup!"

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."


"Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.