Importing, Exporting, and International Trade International Business Chapter 4 Independent Practice - Research the U.S. Customs and Border Protection Department
- Examine and explain 2 regulations regarding importing
- Examine and explain 2 regulations regarding exporting
- Find and explain 3 Careers at the U.S. Customs Department
- What is International Trade?
- All business activities conducted between individuals, companies and governments from different countries
- Business Activities:
- Buying, selling, shipping, receiving, paperwork, credit, payments, servicing.
- Importing And Exporting
- Imports – goods and services people in one country buy from people in another country
- Exports – goods and services people in one country sell to people in another country
The Nature of International Trade - Goods and Services
- Goods
- Services
- A task provided by a business (you cannot touch)
- Goods with Services
- Often goods are sold with services
- Buying an extended warranty on a product
- Importing Process
- Identify Need
- Search for Supplies
- Create and Finalize Purchase Agreement
- Contract between the buyer and the seller
- Receive Goods
- Confirm the Purchase
The Nature of International Trade - Exporting Process
- Assess Demand
- Identify Customers and Make Contacts
- Create and Finalize Purchase Agreement
- Shipping Costs
- FOB – Free (Freight) On board
- CIF – Cost, Insurance, Freight – all included in quote to buyer
- C&F – Cost & Freight – insurance is paid separately
- Deliver Goods and Services
- Complete the Transaction
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