MGMT 3P98 Lecture Notes - Lecture 1: Product Differentiation, Gini Coefficient, Mercantilism

• School: Brock University
• Department: Business - Management
• Course: MGMT 3P98
• Professor: Francis Sun

Document Summary

Licensing: allows a foreign firm to purchase the right to manufacture and sell the firm"s products within a host country or set of countries. Joint venture: jointly set up a third legal entity (both sides selling something to this third party) Week 2: environmental factors: cultural, political, legal and economic. Gender equality women cannot drive a car. Culture attitudes of groups of people, beliefs, values, social norms. Gross national product (gnp) = gdp + citizens" income abroad domestic income of foreigners. Gni=gdp + income from i & e and international operations. Purchasing power parity (ppp) relative purchase power of different countries" currencies for the same basket of goods. Sustainability whether a country"s growth and development is sustainable in the long run. Consider the features of an economy in economic analysis: Why countries trade with each other: new customers, better products, nations specialize + nations have different factor endowments = international.