Country's wealth was determined by the amount of its gold and silver holdings.

H e developed the product life cycle theory.

In mercantilism, The objective of each country is to have trade deficit and to avoid trade surplus.

The following are the determinants of Porter's National COmpetitive Advantage Theory EXCEPT:

Comparative advantage focus on the relative productivity differences, absolute advanatage looks at the absolute productivity

When the value of import is greater than the value of export, it is called _____________________.

Who introduced the theory of absolute advantage?

What theory did Steffan Linder develop?

They developed the Factor proportions Theory.

States that countries with the most similarities in factors such as incomes, consumer habits, market preferences, stages of technology, communications, degree of industrialization will be more likely to engage in trade between countries and intraindustry trade will be common.

If I am better at all types of production, I have the _______________In all forms of production.

When determining the comparative advantage, one must determine

Comparative advantage was developed by David Ricardo.

According to factor proportions theory, factors that were in great supply relative to demand would be cheaper.

The principle of comparative advantage contends that countries should specialize and export those goods in which they have a relative advantage compared to other countries.

Which of the following does not define comparative advantage?

It refers to the total value of assets that MNEs invest abroad.

Statement 1: Networks and relational assets represent the economically beneficial long-term relationships the firm undertakes with other business entities.

Statement 2: Firm-level relational assets represent a distinct competitive advantage in international business.

Who developed National Competitive Advantage Theory​?

It is a strategic alliances in which the firms’ partner, for a finite duration, to collaborate on projects related to R&D, design, manufacturing, or any other value-adding activity.

Governments actively intervened in international trade in order to maintain a trade surplus​

It describes the nation’s resources such as labor, natural resources and advanced factors such as capital, technology, entrepreneurship, advanced work force skills, and know-how

Who developed International Product Life Cycle theory?