| Trade Theories | Comparative & Absolute Advantage | Globalization |
|---|---|---|
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A country must export and don't import.
Based on mercantilism, what should a country do to keep a positive trade balance?
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Wealth of Nations
What is the name of the book written by Adam Smith?
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Politic, Technological, Markets, Costs and Competition.
What are the 5 forces Driving Globalization?
|
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Gold
During the mercantilism period, what would a country with a positive balance of trade accumulate?
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Skilled labor, Incentive to develop efective working methods and, No switch producing one good and then another.
What are the 3 facts promoted by Absolute Advantage?
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Interconnected and interdependent word with free transfer of capital, goods and services accross frontiers.
According to Business Dictionary, what is the result of Globalization?
|
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Wealth of a country consist of the goods and services available to it citizens.
What is the wealth definition proposed by Adam Smith?
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Country A has an absolute advantage on those goods were it is more efficient producing than Country B.
Define Absolute Advantage
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Technologic Force.
Internet Conectivity is an example of what type of force Driving Globalization?
|
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Tariffs, Import Quotas, Direct Subsidy, Export Subsidy, Exchange Rate Manipulation, Immigration Restrictions, Preferential Governmental Spending
Give 5 examples of protectionist measures
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Comparative Advantage
This theory is considered "Mother of International Trade".
|
International Trade and Investment.
Give an example of Politic Forces
driving Globalization? |
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Trade theory born in England during XVI Century based in capital cummulation.
What is Mercantilism
|
US is 4 times more efficient producing Movies than Germany. And it is also 2 times more efficient producing cars.
Under Comparative Advantage, US produces Movies at a cost of 50 USD and Cars at a cost of 20 USD.
Germany produces Movies at a Cost of 200 USD and Cars at a cost of 40 USD. Both countries have limited capital of 1000 USD What should Germany produce and se |
Theodore Levitt
Who said "Technological advances altered communication, transportation, travel, to create a global consumer who prefers standardized products?
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