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MNP3702 Assignment 1

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MNP3702 Assignment 1 (COMPLETE ANSWERS) Semester 1 2025 (212628) - DUE 27 March 2025

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Rhodes University (RU)
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MNP3702








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Thomas E. Johnsen, Mickey Howard Purchasing & Supply Chain Management
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MNP3702 Assignment 1 (COMPLETE ANSWERS) Semester 1 2025 (212628) - DUE
27 March 2025



International trade theory refers to... - ANSWER i) the microeconomic aspects of
international trade
ii) the macroeconomic aspects of international trade
iii) open economy macroeconomics


An improvement in a nation's terms of trade means that... - ANSWER The prices of
its exports have increased more than the prices of its imports.


According to the mercantilists, trade was considered a... - ANSWER Zero-sum
game


The mercantilists believed that a country's economic welfare depends on... -
ANSWER Achieving a favourable trade balance

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