
BAIB3004 Week 2 Seminar 24/25
Authored by Rita Gao
Business
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best exemplifies the application of the theory of comparative advantage in the real world?
The United States exporting aircraft while importing electronics from China
Both countries producing and exporting the same products
Countries only engaging in barter trade
Countries refusing to engage in international trade
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to Porter's Diamond Model, which factor is NOT considered when analysing a country's competitive advantage in an industry?
Factor conditions
Demand conditions
Currency exchange rates
Related and supporting industries
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a real-world application of the Heckscher-Ohlin model?
A labour-abundant country exporting labour-intensive goods
A capital-abundant country exporting labour-intensive goods
Countries only trading in finished goods
Countries refusing to trade based on factor endowments
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How has the Heckscher-Ohlin model been applied to understand trade patterns between developed and developing countries?
It explains why developed countries export capital-intensive goods
It justifies protectionist policies
It suggests that all countries should specialise in the same industries
It proves that international trade is always detrimental
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How might a company like McDonald's use Porter's Diamond Model in practice?
To analyse potential markets for expansion
To understand its competitive advantages in different countries
To identify synergies in domestic markets
All of the above
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following represents a practical application of Samuelson's factor price equalisation theorem?
The gradual rise in labour costs in China as it engaged in international trade
Countries maintaining constant wage levels regardless of trade
The complete elimination of all international trade
Factors of production becoming more scarce in all countries
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which theory suggests that countries should specialise in producing goods they can make most efficiently?
Comparative advantage theory
Absolute advantage theory
Heckscher-Ohlin theory
New trade theory
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