Question 1 Briefly discuss why the understanding of international trade theory is useful to managers in international business. Question 2 In a short essay, discuss the theory of absolute advantage and the reasons a country's efficiency improves based on this theory. Question 3 Identify the theory where the countries export more than they import and, if successful, receive gold from countries that run deficits. Explain the main problem of this theory.
Question 1 Briefly discuss why the understanding of international trade theory is useful to managers in international business. Question 2 In a short essay, discuss the theory of absolute advantage and the reasons a country's efficiency improves based on this theory. Question 3 Identify the theory where the countries export more than they import and, if successful, receive gold from countries that run deficits. Explain the main problem of this theory.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Subject International business. Please answer all the questions . Please answer honestly and using your own sentences
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