BUSI 2301 Lecture Notes - Lecture 4: International Trade
Document Summary
The definition of trade policies according to nicita (2013) is that they are the regulations that govern the process of exchange of goods and services in the international trade. Such regulation includes tax, subsidies, imports and export regulations. It is important to imperatively comprehend that success or failures of businesses are dependent on consideration of interests of parties involved in the industry. When formulating trade policies, it is important to take into consideration of business owners, their employees, and the consumers. Most trade policies often fail to consult the consumers regarding their views regarding the products or goods they offer. The consumers" interest is paramount since they are the primary reason as to why the business exists. In his book, "towards an alternative perspective on trade and industrial policies. " Development and change" shafaeddin (2005) argues that the consumers" should be valued the most and their opinions count in decision making because, without them, the business transaction will not exist.
