Economic and Political Environments Comparison

Economic and Political Environments Comparison Students Name Institutional Affiliation Course Code and Name Instructors Name Date Economic and Political Environments Comparison Section One Business decisions play an important role in the success of a venture or a business idea. In this case, the product to be sold in the international market would be smartphones. Therefore, the collected data would provide more information regarding the best market to venture in. Different countries have different economic and political climates and this information could determine whether the product would sell more or less. Data points such as the legal environment would provide information such as the markets regulations regarding imported goods. For instance, markets with high tax tariffs would make it costly to sell the smartphones. On the other hand, low taxes would mean less importation fee and therefore, the product would not be priced high (Kyove et al., 2021). Another data point important in making a viable business decision would be the market size and the potential for growth. In this case, data points such as population size and growth would help determine the market with the highest potential for a large customer base. Cultural factors also vary from one market to another and would also be a key determinant in making the business decision. Among the ideal data points that would suggest an expansion into the new mar...