Mkt 310 exam 2 stuvia - Study guides, Class notes & Summaries

3 implications of international business flow -ANSWER 1. develop cross cultural literacy 2. the connection between culture and national competitive advantage 3. connection between culture and ethics in decision making cross cultural literacy -ANSWER understanding how the culture of a country affects the way business is practiced how to advice cross cultural literacy? -ANSWER -ensure home country executives are well versed enough to understand how differences in cultures affects the prac...

classical trade theories - ANSWER1. mercantilism 2. absolute advantage principle 3. comparative advantage principle 4. factor proportions theory 5. international product cycle theory mercantalism - ANSWER-int. trade perspective in 1500's -ideal situation is to run a trade surplus (export>import) -neo-mercantilism: labor unions (protect jobs), farmers (keep prices high) absolute advantage principle - ANSWER-country only benifits by producing products in which it has an absolute ad...