How does international trade provide businesses with access to new customers?
A) by imposing embargoes and licensing
B) by outsourcing, exporting, and licensing
C) by creating networks of global franchising organizations
D) by on-shoring and protectionism

Question

Quizplus · Accepted Answer

International trade provides businesses with access to new customers through outsourcing, exporting, and licensing. Outsourcing allows businesses to establish operations in other countries, while exporting allows businesses to sell their products and services to customers in other countries. Licensing allows businesses to grant other companies the right to use their intellectual property, such as trademarks and patents, in exchange for royalties. All of these strategies allow businesses to reach new customers and expand their global market reach. Embargoes and protectionism, such as on-shoring, are strategies that limit international trade and do not provide businesses with access to new customers. Networks of global franchising organizations and global supply chains may also enable access to new customers. However, this is not mentioned in the given answer choices.

How Does International Trade Provide Businesses with Access to New