Joshua Trainum
8/14/10
Module 1
1.8 Review and Discussion questions
Chapter 1
1:
Implications on career and education due to the volume and importance of international trade:
International trade has made its presence known in almost all careers.
Someone wanting to succeed, at a
minimum, must realize the presence of a global economy and respect the different scenarios that may
arise.
I want to further my career, and my goals are to have international experience.
It is important that
I study and learn the rules and differences that are involved with international trade.
Dealing on a small
scale with eBay in the past I would have been much better prepared to handle a global market.
2:
Wal-Mart’s forced “price point” reduction techniques will demand that their suppliers seek out
ways to reduce their costs in order to continue to sell to Wal-Mart.
According to Heckscher-Ohlin Factor
Theory, some countries will have be able to produce products at a lower rate because they were endowed
with an abundance of a production factor.
This will force suppliers to seek out the lowest priced items on
a global scale to take advantage of these factor endowments.
This
preview
has intentionally blurred sections.
Sign up to view the full version.

This is the end of the preview.
Sign up
to
access the rest of the document.
- Fall '10
- DrK
- International Trade, Global Trade
-
Click to edit the document details