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Can you help me do this? Please put your answer to these three questions in an expert’s position. Please follow the instructions.
Below are five general essay questions covering various broad topics we have covered during the semester. You are to pick ANY THREE of these questions to answer. Write as much as you can, include EVERY relevant aspect you think is appropriate to the topic, and be as organized and complete as possible. You will be graded based on your comprehension of the topic, your articulation and organization of your thoughts, and on your objectivity in analyzing all aspects of the issue. I would suggest you spend 10 minutes or so organizing your thoughts before you start writing. Good luck.
- In chapter 5, the text has 7 theories to explain the growth of international trade over the centuries. The earliest was Mercantilism, followed by others offered by thinkers such as Adam Smith and David Ricardo. Compare and contrast these theories, and state which one you think best explains today’s global trade situation. Explain the difference between absolute and comparative advantage, and how these contribute to increases in the standard of living of countries that engage in trade. What is the Leontief Paradox?
- Chapter 8 of the text explains Regional Economic Integration. What are the benefits and drawbacks of nations allying themselves with others in their region in this manner? What are the 5 major steps (types of unions) as they progress toward “political union”? Explain the differences in each. Give the names of at least 3 regional trade areas in the world other than the EU and NAFTA. Why hasn’t the EU continued to evolve into a political union? Do you see NAFTA growing to admit other nations? Why or why not?
- With respect to global marketing, there are four options for an MNC to consider: standardizing products and/or promotion, and adopting products and/or promotion. Compare and contrast the advantages and disadvantages of each strategy. What factors must be considered when making the decision about which marketing strategy to use? Describe the use of “push” versus “pull” marketing efforts. What are the most important aspects of each? What are the major things to consider when setting a price? What are the 3 most popular pricing strategies?
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