Module 1.8 Ch 1 & 2 questions - Joshua Trainum Module 1 1.8 Review and Discussion questions Chapter 1 1 Implications on career and education due to

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.