Getting paid is often the hardest part of your international trade transaction. Even if you are used to taking payment up-front in your domestic market, you will find that much harder in an overseas market.
It is important to consider the logistics of moving your merchandise to your customers. For businesses considering international trade, however, it becomes a crucial part of their decision making and planning process.
Many countries seek to discourage imports through the imposition of tariffs, quotas and non-tariff barriers (NTBs) though they may agree to make concessions to selected countries, usually in exchange for some sort of trade agreement.
You have probably found that taking decisions is much easier when you have all the facts you need. Take the simple example of buying a birthday present for a relative or close friend and having to choose between the red one or the blue one.
There is much talk amongst trade economists of value chains, supply chains and market structure. Market structure refers to a market overall and you will hear terms such as monopoly, duopoly, oligopoly, imperfect competition, and oligopsony and monopsony.