Hello

Page 82-88 Notes, & 4.1 Quick Check

* Import - Goods and services that people in a country can buy from other people in different countries.

Ex.) Buying a Hello-Kitty pillow from Japan on Amazon is importing.

* Export- Good and services that people in one country sells to people in another.

Ex.) The United States exports technology to Japan.

* A middlemen is someone whom represents the product, whom are called "Merchant middlemen" are people who buy and then resell the product, those whom are called "Agent Middlemen" are people who represent the product but don't quite own it.

* As companies and countries trade with each other, there are 5 keys: Identify needs, Search for suppliers, Create and finalize a purchase agreement, Receive goods, & be sure to confirm the purchase.

* Assess Demand is the process of assessing demand for a product that has 2 steps, first to effectively analyze the export potential for a goodie or service, and the second one is to assess the companies ability to follow through and provide the goodie or service.

1. The differences between an import and export is that import is

Page 89-100 & 4.2 Questions

Direct Exporting- A Company that exports their own products

* Manufacturer Export Agents are agents whom represent a company's goods without buying them.

* An Export Commission Agent is an independent exporter based on their home country to do all of the work or buying on sea.

* Export Merchants- Export merchants purchase and then sell the company products for their own profit.

* International Firms can be independents exporter of products, when they export companies in their home countries.

* Four type of Risk: 1.) Time risk, 2.)Economic risk, 3.)Product risk, & 4.)Country risk.

* The differences of a countries import & export is the balance of trade.

* Economic Integration is the practice of removing trade barriers and establishing cooperation.

1.)When you have the key benefit of direct exporting, you have control. The company will have a great deal over negotiations, prices, distribution and marketing.

2.)The main differences between direct and indirect exporting is that direct deals with control & making money while indirect exporting is that you get volume & simplicity.

3.Four major trade agreements around the world are ( CARICOM ), ( CACM ), ( LAIA ) in English & ( ALADI in Spanish ), & ( APEC ).

Page 108-114

* A democracy is a government system that the citizen has the power.

* Totalitarianism is a government system in which the people do not have any power on the government's policies and laws.

* A theocracy is a type of totalitarian government whose leaders claim you be inspired by divine guidance.

* 2 main factor that guide governmental actions are isolationism, & conservative or liberal attitudes.

* Conservative attitude favor limits on government activities and promotes private ownership & business.

* A free trade zone