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Briefly explain Tom shoes theory of competitive advantage.

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Garima Menon
Garima MenonLv7
1 Apr 2021
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Related questions

Suppose that Portugal and Sweden both produce oil and shoes. Portugal's opportunity cost of producing a pair of shoes is 5 barrels of oil while Sweden's opportunity cost of producing a pair of shoes is 10 barrels of oil. By comparing the opportunity cost of producing shoes in the two countries, you can tell that has a comparative advantage in the production of shoes and has a comparative advantage in the production of oil. Suppose that Portugal and Sweden consider trading shoes and oil with each other. Portugal can gain from specialization and trade as long as it receives more than of oil for each pair of shoes it exports to Sweden. Similarly, Sweden can gain from trade as long as it receives more than of shoes for each barrel of oil it exports to Portugal. Based on your answer to the last question, which of the following prices of trade (that is, price of shoes in terms of oil) would allow both Sweden and Portugal to gain from trade? Check all that apply. 1 barrel of oil per pair of shoes 9 barrels of oil per pair of shoes 3 barrels of oil per pair of shoes 8 barrels of oil per pair of shoes

Can you please help me with those questions based on :

BASICS OF INTERNATIONAL BUSINESS,

James P. Neelankavil and Anoop Rai,

2nd edition, 2013, Sheron Enterprises.

Ā 

1.Define International Business. List all different forms or types of International Business? Briefly explain any two of the following four with examples.

a.XXXX

b.XXXX

c.XXXX

d.XXXX

2.How do you define MNE (Multinational Enterprise)? What are the features of an MNE? What are the competitive advantages of an MNE? (with reference to the handout given through blackboard and discussed in class)

3.Briefly describe the Comparative Cost (Advantage) theory constructed by David Ricardo. What are the assumptions? What are the major differences between Comparative Cost theory and Factor Endowment (H-O) theory?

4.Define culture from an International Business perspective? What are the components (with reference to class discussions) of culture? Briefly describe them and give examples.

5.Briefly describe the Leontief Paradox. How this paradox was later disproved by other economists?

6.Explain the Theory of Internalization with examples of vertical and horizontal integration. Why do MNEs (Multinational Enterprises internalize?

According to the theory of competitive markets, what is presumed to determine the wage rate and exchange rate in a country and explain these two mechanisms' central role in translating comparative advantage into competitiveness?

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