If you were a business owner from a poorer, low-wage country; which approach to explaining trade would make the most sense to you? Why?
If you were a business owner from a poorer, low-wage country; which approach to explaining trade...
Unions in developed nations often oppose imports from low-wage countries and advocate trade barriers to protect jobs from what they often characterize as “unfair” import competition. Is such competition “unfair”? Do you think that this argument is in the best interests of (a) the unions, (b)the people they represent, and/or (c) the country as a whole?
Ricardo’s theory of trade suggests that it makes sense for a country to specialize in the production of those products that it produces most efficiently and to buy the products that it produces less efficiently from other countries, even if this means that the country is buying products that in reality, it could produce more efficiently itself. This means that Ricardo showed that a country can derive advantages by trade even though it has an absolute advantage in producing all products. The Heckscher-Ohlin theory of ...
Ricardo’s theory of trade suggests that it makes sense for a country to specialize in the production of those products that it produces most efficiently and to buy the products that it produces less efficiently from other countries, even if this means that the country is buying products that in reality, it could produce more efficiently itself. This means that Ricardo showed that a country can derive advantages by trade even though it has an absolute advantage in producing all products. The Heckscher-Ohlin theory of ...
Trade Theories, a Historical Approach Free trade refers to a situation where a government does not attempt to influence through quotas or duties what its citizens can buy from another country, or what they can produce and sell to another country. The economic arguments surrounding the benefits and costs of free trade in goods and services are not abstract academic ones. International trade theory has shaped the economic policy of many nations for the past 50 years. The textbook reviews...
Talk about the difference between long-run and short-run. If you were a business owner, how would you apply these principles to make decisions about your business? You will need to define short-run and long-run from your own knowledge, explain the difference, and then determine what decisions you would have to make in time frames. You may use your Fortune 500 company if you like.
You should also include a minimum of two sources that support your responses. How might your approach to doing business with China, a Communist country, be different from your approach to doing business with India, the world’s most populous democracy? In which country, China or India, would you expect to encounter the most rules? Why? In which country, China or India, would you expect to encounter the most bureaucracy? Why?
As a small business owner facing saturated domestic markets, how would you approach foreign markets? Develop a strategic plan outlining how you would research markets, get your product to potential customers, handle the financing side of the business, and grow your sales. Include information on what resources are available to help with this process.
If you were a new business owner intending to have a business Facebook site, how would you integrate digital and traditional media, as part of your communications strategy describe how Facebook would play a role.
Explain the benefits and drawbacks from trade. Why might a country decide to limit trade? As an economist, would you recommend free trade? Your answer should take approximately 1 page and draw from the material in Week 1. The proper formatting is as follows: 12 point Times text, double spaced, 1" margins. You must cite all references. Failure to cite a reference will result in a zero on the entire exam
If you were about to launch a new business, would you write your business plan from scratch or use a software program to do it? Describe the approach you would take, and identify the pros and cons of each approach.