International Trade and Economic Policies

According to the text, what is the main competitive weapon when the product becomes standardized?

What is one of the implications of economies of scale in international trade?

What happens to the variety of goods and costs in a world without trade?

What are first-mover advantages in the context of international trade?

According to Porter, what are the four broad attributes of a nation that shape the environment for local firms?

What are the basic factors of factor endowments?

What is the relationship between vigorous domestic rivalry and competitive advantage in an industry?

According to Porter, what can influence the national diamond apart from the four broad attributes?

What can shape domestic demand and firm rivalry according to the text?

What is one managerial implication discussed in the text?

Which trade theory advocates government intervention to achieve a trade surplus?

Which trade theory promotes the idea that countries should specialize in the production of goods for which they have an absolute advantage?

Which trade theory suggests that countries should specialize in the production of goods they produce most efficiently and buy the goods they produce less efficiently from other countries?

Which trade theory argues that unrestricted free trade leads to greater potential world production compared to restricted trade?

Which trade theory assumes a simple world with two countries and two goods, no transportation costs, and no difference in the price of resources?

Which trade theory suggests that countries that adopt a more open stance toward international trade enjoy higher growth rates?

Which trade theory emphasizes that comparative advantage arises from differences in national factor endowments?

Which trade theory found that U.S. exports were less capital intensive than U.S. imports, raising questions about the validity of the Heckscher-Ohlin theory?

Which trade theory suggests that free trade can result in dynamic gains, such as an increase in a country's stock of resources and the efficiency with which resources are utilized?

Which trade theory raises concerns about the impact of a free trade agreement between a rich country (U.S) and a poor country (China) that rapidly improves its productivity?

According to the text, what is the main benefit of free trade?

Which trade theory focuses on differences in labor productivity?

According to the text, which trade theory focuses on factors of production?

According to the text, which trade theory focuses on production location changes as products become more widely accepted?

According to the text, what is the main reason why limits on imports are often in the interest of domestic producers but not domestic consumers?

According to the text, what do trade theories explain?

According to the text, what is difficult to explain about the observed pattern of international trade?

According to the text, what is the main implication of Adam Smith’s theory of absolute advantage?

According to the text, what is the main implication of Heckscher - Ohlin theory?

According to the text, what is the main implication of Vermon’s product life-cycle theory?