A higher PPP means you can get more money for your product then from the other countries, this is good to open a new market because then you know you will make more money and can have exponential growth. A higher GDP means the country's economy is doing good and is growing, that shows room for opportunities to open a new market, which can be a great business investment for our product. The country with the highest GDP and PPP will be a sound investment for our new market. Out of all these options I think the two most key factors to look at is the Gross domestic product and the purchasing power parity. Human Development Index and human poverty index are important in the decision-making processīecause it will give you a better understanding on how the people of that country is doing, are they living happily or are they struggling to make ends meet. GDP per capita is important because it will help you determine how the country is economically. It will determine which country you will make more money with for the same item. The purchasing power parity will help you determine "economic productivity and standards of living between countries" (Investopedia Team, 2022) This is important to know to determine how much a basket may cost in one market vs the other. The higher GDP a country has the more successful the business may be. The GDP will help determine if there is opportunity for growth. Knowing the type of political system the country uses, how the economy is classified, and if there are any trade blocs will help you determine how healthy the economy is, the country spending habits, how easily the trade may be, if there will be any obstacles such as tariffs when trading, and it will help you know if the country is low class, middle class or high class. All these categories are important to learn the country you are trying to do business with. I will look at the countries political system, economic classification, economic blocs impacting trade, gross domestic product, purchasing power parity, GDP per capita, human development index, and human poverty index. The three international markets I will be looking into is Mexico, Germany, and Japan. This tracker will also have a camera attached to it to make it easier to scan barcodes on the food. Since the pandemic more people are trying to get healthy and what better way to do this is with a way to track any exercise and food you eat. This will determine the best market for our product the waterproof activity/food tracker with a camera. INT 220 Module Three Assignment Template Economic and Political Environments Comparison Section One As an international trade consultant, I have been chosen to do research on various international markets to do business with.
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