List and briefly describe the three basic barriers to international trade. Give examples of each.

The three basic barriers are: (1) social and cultural differences (different countries have different demographics, customs, cultures, language, shopping patterns, subtle behavioural differences, physical size differences, etc.); (2) economic differences (differences in the level of government involvement in business, extent of credit card use, the level of industrial development, etc.), and (3) legal and political differences (differences in tariffs, quotas, and subsidies, differences in protectionist sentiment, differences in local content laws and in business practice laws, etc.).