Give examples to show why the following factors are reasons for international trade: a) Differences in Technology b) Differences in Resource Endowments c) Differences in Demand
1) Give examples to show why the following factors are reasons for international trade:
a) Differences in Technology
b) Differences in Resource Endowments
c) Differences in Demand
d) Existence of Economies of Scale in Production
e) Existence of Government Policies
Hi! Thanks for the question. As per our Bartleby guideline we are supposed to answer only three sub-parts. As you have not mentioned three numbers, I am providing answers to first three sub-parts. Please post separate questions for next sub-parts.
Globalization is spreading significantly across nations so that multinational organizations can emerge as dominant players globally. Businesses are hiring candidates from all over the world to gain cultural advantage and carry the business with an innovative zeal. Often these organizations tend to pay higher compensation and benefits to foreign candidates as they possess a wide perspective of doing business in their home country. Sometimes these differences in payments cause differences in the attitude of employees from different cultural and national backgrounds. Hence, the management must consider these differences and provide a proper explanation for the same. Such managerial cations not only eliminate opinion issues but also creates cultural coordination among employees belonging to different nations.
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