What Economic Differences Can Become Barriers to International Trade? How

question 93

Essay

What economic differences can become barriers to international trade? How can these differences be addressed to avoid a negative impact on global business?

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Definitions:

Machine Hours

A measure of the time machines are run in the manufacturing process, used to allocate manufacturing overhead costs.

Copper Concentrate

A form of copper ore that has been crushed and treated to increase its purity and concentration before further processing or sale.

Step-variable Costs

Costs that remain fixed for a set level of production or activity, but can change in steps when a certain threshold is exceeded.

Mixed Costs

Costs that contain both fixed and variable components, changing with the level of production but not in direct proportion.