Transportation: A Global Supply Chain Perspective
9th Edition
ISBN: 9781337406642
Author: Robert A. Novack, Brian Gibson, Yoshinori Suzuki, John J. Coyle
Publisher: Cengage Learning
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Chapter 1, Problem 3SQ
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To differentiate: The concepts of absolute advantage and
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The economic argument for trade between and within regions and countries has been provided as absolute and comparative advantage theories. Make a comparison and distinction between the two terms. Which of the two factors do you believe is more significant in understanding global trade development over the last 25 years? What is the reason for this?
Compare and contrast the advantages for entering and competing in foreign markets for the strategic options of exporting, licensing, and franchising.
What are the essential factors for economic growth and increased development of global trade flows? Why are they so important in today's global economy?
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Transportation: A Global Supply Chain Perspective
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- When considering entering international markets, there are some significant strategic and tactical decisions to be made. Each entry mode has different pros and cons, addressing issues like cost, control, speed to market, legal barriers, and cultural barriers with different degrees of efficiency. In this perspective, discuss any two methods of doing business internationally. You are also required to briefly discuss advantages and disadvantages. Use real life examples to support your answer.arrow_forwardInternational trade improves overall economy of all the participating countries. Do you think this statement is correct. Write a paragraph to support your argument ?arrow_forwardDoes the U.S. have a trade deficit or surplus? (Research this separately) What are the arguments for protectionism or free trade? How is this affecting (expected to affect) the economy (consumers, business dealings, prices, tariff income generated, etc.) Read Ezekiel 28:18, and Proverbs 31:18. How does trade played an important role in biblical times.arrow_forward
- nternational Trade Theory seeks to answer two basic questions. Choose the best answer. Question 6 options: a) Nations trade for economic, political and cultural reasons b) Wealth of nations is derived from the division of labor and specialization. c) Nations, like Firms, face the same "make or buy" decisions. d) Nations trade because they possess advantages. e) The correct answer is "a" and "c"arrow_forwardDiscuss why countries sometimes trade goods with one another. Think about the advantages and disadvantages of trade. As the video notes if one country can produce goods better than another country why would it still trade with that country? hOW CAN TARIFFS IMPACT TRADE? Why do some countries decide to protect certain goods and products and encourage domestic production of those items rather than see them being traded for even if another country can produce the item more efficiently. If you were in charge of your home country what products and industries would you put tariffs on to protect domestic industries and supplies from international trade partners.arrow_forwardIn recent years, globalization has been a hotly debated topic, with proponents arguing that it has led to increased economic growth and opportunities, while opponents claim that it has widened inequality and caused environmental degradation. With this in mind, consider the following questions: 1.How has globalization affected the economy of a particular country or region, and what have been the social and environmental implications of this process?2.What are the main drivers of globalization, and how have they evolved over time?arrow_forward
- What is your impression of economic globalization? Is it purely evil or is it a necessary evil? Why?arrow_forwardAccording to neoclassical economic theory, as long as trade is voluntary, both trading partners benefit as they can capitalize on their comparative advantages in production. Indeed since 1980s, all developed countries and international organizations such as lMF, World Bank and WTÓ have been promoting free trade; yet most wealthy developed countries practice protectionism themselves. Discuss..arrow_forwardWhy is international trade important to a nation?arrow_forward
- . Without an increase in resources or an improvement in technology, how can all countries in the world consume more than they can produce through trade? Does trade increase global production potential? If so, how?arrow_forwardWhat are three ways Japan has won or lost with International Trade. Cite your sources. Please help, thank youarrow_forwardThe theories that explain international trade and investment. explian with long essays and examplesarrow_forward
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