What are the Classical Country-Based Trade Theories? This was one of the first theories of international trade. They focus on the individual country in examining patterns of imports and exports. These theories are useful in describing trade for commodities. This is because they are standardized and undifferentiated type of goods and services that focus mainly on price. Mercantilism This theory was developed in the sixteenth century and states that a country’s wealth is determined by
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Krugman Reading General equilibrium model of noncomparative advantage trade driven by economies of scale (internal to firms) Scale economies->imperfect competition Trade and gains from trade in economies w/ identical tastes‚ tech‚ factor endowments Economies of scale provide alternative to dif in tech or factor endowments as explanation of international specialization and trade Three (3) stages to solve 1. Analyze demand curve facing individual firm 2. Deriving pricing policy of firms and relate
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Q.2 . What is groupthink. Explain. [10] According to Irving Janis(1972) ‚ groupthink is "a deterioration of mental efficiency‚ reality testing‚ and moral judgment resulting from in-group pressures". Thus‚ the overemphasis on consensus and agreement leads members to be unwilling to evaluate group members’ ideas critically. This hinders decision-making and becomes an obstacle to group productivity. Certain conditions favour the development of groupthink. i) The first condition is high cohesiveness
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Foreign Direct Investment in Russia A Strategy for Industrial Recovery P. Fischer ISBN: 9780333977590 DOI: 10.1057/9780333977590 Palgrave Macmillan Please respect intellectual property rights This material is copyright and its use is restricted by our standard site license terms and conditions (see palgraveconnect.com/pc/info/terms_conditions.html). If you plan to copy‚ distribute or share in any format‚ including‚ for the avoidance of doubt‚ posting on websites‚ you need the express
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For centuries‚ Russia was cut off from most of Western civilization. This is due in part to Russia’s geography. Russia has‚ what is called a natural barrier. Russia’s natural barrier is simply its huge expanse. It is hundreds of miles from Moscow or St. Petersburg to any Western city. This isolation was a hindrance‚ and an advantage throughout history‚ politically‚ socially‚ and economically. Russia’s language is an example of this. It is extremely clear that it resembles no Western European
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The oil industry is a large and fast depleting industry. The main market oil producing countries and organizations such as Opec and Opec+‚ and a few other non-Opec countries indicate that their current production rates (reserves) are slowly being eaten up. This is shown by (graph 1) The structure of the world oil market is set to be oligopolistic as the oil market is dominated buy few suppliers‚ such as Opec and Opec + and the North Sea. For a industry to be classified as an oligopolistic industry
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What Is Literature and Why Do We study it? Literature is Composition that tells a story‚ dramatizes a situation expresses emotions‚ analyzes and advocates ideas Helps us grow personally and intellectually Provides an objective base for knowledge and understanding Shapes our goals and values by clarifying our own identities‚ both positively and negatively Literature makes us human. Literature is literally “acquaintance with letters” (Latin littera meaning “an individual written character/letter”)
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to destroy the Russian Far East Fleet before her forces would invade Korea and Manchuria. To this effort‚ Japan’s Admiral Yamamoto notified Admiral Togo of the Russian intentions and moves‚ which involved the collection of the whole fleet at Port Arthur in order to attract the Japanese forces‚ and from a position of advantage‚ force them to expend their strength. The Japanese also successfully anticipated the Russians use of Vladivostok for the launch of raids against coastal Japanese towns with the
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charities today‚ we’re not sure what to think. One might imagine going to a building where we can donate money in‚ or visiting a website where you enter an amount of money and your credit card number. Charities haven’t made themselves highly accessible yet. My charity aims to fix that. With nothing but the clothes on my back and 10 million dollars‚ I will start the non-profit Charity organization called Charity-ception. Charity-ception is a charity that will help charities-- of any size become more
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1(a) Explain the key demand side drivers of price for oil. In recent years‚ the fluctuations of oil prices have gotten the attention of the whole world. From $20s in 2003‚ it hit a mid-term peak of $148 in mid 2008‚ then fell to $30 during early 2009‚ and now back to $70-$80. Economic principles have demonstrated that the rise of oil price is a function of lack of supply and greater demand. We know that oil is lack of supply since there’s no major oil field found in the last 40 years and oil
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