What are some of the potential influences that economic com

. What are some of the potential influences that economic communities (for example, the EU or NAFTA) can have on international businesses, such as Subway?

Solution

Answer:

Economic Communities: These are the communities setups for the group of countries to standardize the trade process in that region are known as the economic communities. These economic communities facilitates the common business process and rules for the participating business players in that particular region. NAFTA – North America Free Trade Agreement and European Union are the two economic communities available for the North America market and the European market respectively.

These communities helps to develop the common business/trade processes which sets common legal rule, regulations, factory standards, set-up process etc. these all factors are common and free for all the business players in that particular market.

Following are the potential influences for the international businesses by the economic communities are as below:-