Ch. 3 Essay Possibilities
Be prepared to answer any/all of the following questions:
1. What is absolute advantage? What are the typical reasons why a country might have an absolute advantage for a certain good or service?
2. In addition to exporting and importing goods and services, other forms of exchange take place among nations. Provide at least two examples.
3. What are the three main factors that affect currency exchange rates among countries?
4. Briefly explain the difference between a global strategy and a multinational strategy.
1. What is absolute advantage? What are the typical reasons why a country might have an absolute advantage for a certain good or service?
2. In addition to exporting and importing goods and services, other forms of exchange take place among nations. Provide at least two examples.
3. What are the three main factors that affect currency exchange rates among countries?
4. Briefly explain the difference between a global strategy and a multinational strategy.
