Describe the major international trade theories and how they operate.
Mercantilism
Specialization
Factor Endowments
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, The premise that a nation could only gain (accumulate wealth) from
external trading if it had a trade surplus.
Exports increase wealth
Imports decrease wealth.
Exports > Imports
Free trade encourages countries to specialize in the production of those
goods and services that they most efficiently produce.
Nations primarily export goods and services that intensely use their
abundant factors of production.
Identify the primary and secondary sources that can be used to learn about foreign
countries' cultures.
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language
manners and customs
aesthetics
Artifacts & Products,
Rituals & Behavior,
Systems & Institutions,
Beliefs, Attitudes, & Conventions,
Basic Assumptions & Values.
Define culture and identify the four characteristics of culture which companies doing
business abroad need to recognize.
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Mercantilism
Specialization
Factor Endowments
Give this one a try later!
, The premise that a nation could only gain (accumulate wealth) from
external trading if it had a trade surplus.
Exports increase wealth
Imports decrease wealth.
Exports > Imports
Free trade encourages countries to specialize in the production of those
goods and services that they most efficiently produce.
Nations primarily export goods and services that intensely use their
abundant factors of production.
Identify the primary and secondary sources that can be used to learn about foreign
countries' cultures.
Give this one a try later!
language
manners and customs
aesthetics
Artifacts & Products,
Rituals & Behavior,
Systems & Institutions,
Beliefs, Attitudes, & Conventions,
Basic Assumptions & Values.
Define culture and identify the four characteristics of culture which companies doing
business abroad need to recognize.
Give this one a try later!
