bribes may be more acceptable in other countries Theories of International Business • Theory of Comparative Advantage – countries specialize in the production of goods they can produce with relative efficiency and trade for other products • Imperfect Markets Theory – factors of production (labor and other resources) are immobile. • Firms can capitalize on imperfect markets by exploiting foreign opportunities. • Product Cycle Theory – firm introduces product in home market, then exports
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Competitive Advantage as an aid to understanding national competitiveness. Table of Contents Table of Contents 2 1. The diamond model by Michael Porter 3 1.1 Introduction 3 1.2 Diamond model Theory 4 1.2.1 Factor Condition 4 1.2.2 Demand conditions 5 1.2.3 Firm strategy, structure and rivalry 5 1.2.4 Related and supported industries 6 1.2.5 The role of Government 6 1.3 Criticism of the framework 7 1.4 Practical Example
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given if no reasons are given or if the reasons given are incorrect. 1. Are the following statements correct? 1. During the first wave of globalisation, Britain was the only country in Europe that supported free trade. (1 mark) No, many other countries supported free trade until disrupted by the world wars. 2. When restrictions to imports from the New World came down in the first wave of globalisation, grain prices fell in Britain and many parts of Western Europe. This was bad for
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Autarky Commodity terms of trade Complete specialization Constant opportunity costs Consumption gains A case of national self-sufficiency or absence of trade (p. 37) Measures the relation between the prices a nation gets for its exports and the prices it pays for its imports (p. 43) A situation in which a country produces only one good (p. 39) A constant rate of sacrifice of one good for another as a nation slides along its production possibilities schedule (p. 36) Post-trade consumption points outside
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University International Business Syllabus Instructor: Dr. Hisham J. Bardesi Office Hours: 11-12 (S, M, W) Contact Information: hbardesi@kau.edu. Course Prerequisites: See Program’s Study Plan Course Title: International Business (BUSE 608) Text Book: Hill, Charles W. International Business. McGraw-Hill. 9th Edition. Course Description: The basic content of the course includes (1) an overview of the means of conducting international business, with an emphasis on what makes international different
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The World Bank and International Monetary Fund The World Bank is one of the world’s largest sources of funding and knowledge to support governments of member countries in their efforts to invest in schools and health centers, provide water and electricity, fight disease and protect the environment. This support is provided through project or policy-based loans and grants as well as technical assistance such as advice and studies (www.worldbank.org, n.d.). The International Monetary Fund works
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ECF5921 Introduction to International Economics Assignment Question 1 Based on the article and other related readings of your choice, discuss the economic and social factors that have caused individual behavior to shift towards the consumption of unhealthy foods and unhealthy lifestyles. Compare ‘fat taxes’ and other alternatives that can be used address the problem. Which one would you recommend? Why? Answer Based on the article “Stick and carrots”, there are certain factors from
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A) The name of the company is Apple. The reasons of choosing this company to explore its experience using the concepts of International Business are as follow: Global pattern of trade * Apple is the global company in the retail industry. 43,000 of Apple employees in the United States to work in the 30,000 Apple stores. Apple retail store employees to do more than the average wage of employees, and provides money for universities, as well as a gym membership, 401K plans, health care plans, product
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Global Business Final Exam Notes DRIVERS AND METHODS Lecture 1: Introduction *Globalisation: shift towards a more integrated and interdependent world economy. International Business: Any business that has productive activities in two or more countries (multinational enterprise - MNE). *Globalisation of markets: Merging of historically distinct and separate national markets into a global marketplace in which the tastes and preferences of consumers in different nations are beginning to converge
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1. What are some of the key motivations for firms to engage in international business? • Seek opportunities for growth through market diversification • Earn higher margins and profits • Gain new ideas about products, services, and business methods • Better serve customers that have relocated abroad • Be closer to supply sources, benefit from global sourcing advantages, or gain flexibility in the sourcing of products • Gain access to lower-cost or better-value factors of production
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