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Eprg framework what does each orientation refer to

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- EPRG framework. What does each orientation refer to? (p18-22, Chapter 1). Chapter 2 - Based on patterns of resource allocation and ownership, what are the four categories of the world’s economies. Know how the four categories differ in resource allocation and resource ownership (p44- 47, Chapter 2). - The World Bank has developed a four-category classification system to describe different stages of economic development. What is the basis for the classification (e.g., why are some countries low-income countries and why are some lower-middle-income countries, you do not
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need to remember the specific number, but you want to be able to recognize the category if given GNI per capita )? What characterizes each stage of economic development and what are the challenges and opportunities for marketing to countries in each category? (see Section 2-3, Chapter 2). - What is product saturation level and how is it related to the stages of economic development (p59-60, Chapter 2). - What are the BRICS nations? - What is the balance of payments? How is it calculated (i.e., what does this record show)? (p60, Chapter 2)? - Explain how exchange rate fluctuations can affect a country’s imports and exports (p64-64, Chapter 2). - Explain the difference between depreciation and appreciation, and between devaluation and revaluation (see review slides, also see p63- 64, Chapter 2). - What is the Big Mac index? (see review slides, also see p65, Chapter 2). - What is economic exposure? (p65, Chapter 2). - What are the ways that firms can manage exchange rate exposure (e.g., hedging)? (p66, Chapter 2). Chapter 3 - What are trade barriers? Can you list a few types of trade barriers? (p250-253, Chapter 8. Also see review slides). - What is a preferential trade agreement? (section 3-2, Chapter 2). - We talked about four forms of economic integration, can you explain the similarities and differences between them? Can you give an example of each? (e.g., an example of FTA is NAFTA).
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