Specialization in Trade 1. a) A country is said to have an absolute advantage in the production of a good if it can produce it using fewer resources than another country. On the other hand‚ a country is said to have a comparative advantage in the production of a good if it can produce the good at a lower opportunity cost than another country b) The theory of comparative advantage suggests that even though one country is “better” at producing both goods (concerning two countries)‚ these countries
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International Trade Simulation‚ explain the basic concept of International Trade‚ emphasize the four key points from the reading assignments in the simulation‚ and apply these concepts to my workplace. Simulation Summary In the International Trade simulation‚ you are the Trade Representative of a small country called Rodamia. You are introduced to international trade--the theory of comparative advantage and the impact of tariffs‚ quotas‚ and dumping on international trade (Applying International Trade Concepts
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Are viruses alive? Explain why you think viruses are alive or not. Viruses are not alive. This is because even though viruses are made up of molecules (proteins‚ nucleic acids‚ carbohydrates and lipids)‚ they cannot do anything on their own‚ until they enter or come into contact with a living cell. Viruses cannot multiply without having a host cell to initiate the process. Another reason would be that viruses don’t actually do anything on their own. Whenever a virus comes into contact with a cell
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COMPARATIVE ESSAY Egypt and Indus Valley Two of the earliest known civilizations were in Egypt and the Indus Valley. Two similarities between them were that both had strong economic systems and distinct social classes. But one major difference included the significant cultural achievements of Egypt compared to the inferior achievements of the Indus Valley. One similarity between the early Egyptian and Indus Valley civilizations is that they both had strong economic systems. Both societies
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Explain why the Decree for the Protection of people and state was issued in February 1933 (12 marks) The Decree for the Protection of People and State‚ also known as the Reichstag Fire decree‚ was issued by the Hitler in February 1933 and was essentially a means for the Nazis to consolidate their power. The decree suspended many of the civil and political rights that had been brought about under the Weimer constitution. It restricted various liberties such as private telephone calls and allowed the
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1. Comparative Advantages and Disadvantages for introducing car audio company in China 1.1 Market assessment China’s automobile industry is booming with a steady and steep growth. Between 2001 to 2005‚ the growth rate of China’s car consumption was 54.42% [China Economy‚ 2008]. This rapid development in china’s auto industry has provided a broad space for auto-parts industry [Yan‚ 2008]. However‚ the car audio market in China seems to be in infancy stage. Foreign car audio brands have taken up
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TDA31-1.2 Explain the principles of relationship building with children‚ young people and adults. A school environment should be calm‚ relaxed and enjoyable for the children so they can thrive in their work and social skills. Teachers and staff should model good practice in communication and relationship. Plus understanding that non- spoken children/ adults show evidence of felling and thinking. Being a teaching assistant the relationship with pupils must be professional without being too distant
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International trade theory provides explanations of the benefit for country to engage in international trade‚ even for products it can produce for itself. As time goes by‚ there are mainly 7 types of theory‚ namely‚ mercantilism‚ absolute advantage‚ comparative advantage‚ Heckscher-ohlin theory‚ product life-cycle theory‚ new trade theory‚ Porter’s diamond national competitive advantage theory. Although some of the theories hold different view of patterns of international trade and vary in attitude
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The principles‚ applications and communication of teaching and learning theories In teaching cycle there are many different factors contribute to the final outcome‚ one of the factor is student learning which contributes the most to our teaching strategies. To get the best outcome‚ we have to apply the teaching strategies that suits our group profile the best‚ and in order to do that we need to know how student learn. Educational psychology is one of the principle foundations for our preparation
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Germany’s economic strength has been based on car production to a great extent. The automobile industry is one of the dominating sectors because many economic activities rely on and are linked to automobile production (i.e. tire industry‚ plastics industry‚ metal processing). If you include suppliers‚ car services‚ garages or retailers‚ a total of about 5 million employees (1 out of every 7 jobs in Germany) depend on the success of the automobile industry. The automobile industry also involves a
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