Organizations face many challenges when considering expanding their business globally. Each country has its own economic and legal rules and regulations that a business must comply with. Not only must they consider the opportunity costs and benefits that might arise from operating in an international market, but they must also understand the risks. It is important that ABC Complete Kitchen Inc.'s executive team evaluates all economic and legal factors that may affect its new establishment, then incorporates economic and legal considerations into its operating plan to avoid any risk of obtaining credit, reliable market conditions or products liability issues.EconomyTo understand the economy it is necessary to know the meaning and types of questions to which economists also attempt to provide answers. Economics “is the social science that studies the choices we make to cope with scarcity and the incentives that influence and reconcile our choices” (Edizione, 2011, 949). Scarcity is when our desires exceed our ability to satisfy them. Time, income and the cost of the products or services we purchase are the limiting factor that may prevent us from satisfying our desires. For example, a student wants a doctorate but only has enough to pay for a lower degree. The student is faced with scarcity and will have to make an alternative choice. There are questions that economists attempt to answer: “How do choices end up determining what, how, and for whom goods and services are produced, and when do choices made in the pursuit of self-interest also promote social interest?” (Edition, 2011, p. 931) The items and assistance valued by the individual are goods and services. The article is good and the assistance... middle of paper... influences the economic and legal considerations of others. The demands of being globally competitive require a company to stay abreast of international business. With the increase in global operations, it is difficult to find managers efficient enough to handle different aspects of international markets. It is even more challenging to find smart CEOs with the required skills or technical background who feel comfortable tackling the global arena. Works CitedAnderson, P. L. (2014). Persistent unemployment and political uncertainty: Numerical evidence from a new approach. Business Economics, 49(1), 2-20. doi:10.1057/be.2013.32Edizione, C. (2011). SKS 5000-Corporate Strategies for Organizational Effectiveness in Global Perspective VitalSource eBook for Northcentral University. Pearson Learning Solutions. VitalBook files.