Executive Summary Kenya achieved independence from the colonial rule in 1963 and its finding mission was to fight poverty, ignorance and disease. Kenya has done a spectacular success in achieving these objectives, the first decade since independence was characterized by a rapid growth of the economy, infrastructure and increases in essential services across the country. This rapid increase growth was supported by a strong and […]

Discuss economic policies and institutions that characterized mercantilism systems 1600-1800. During the Age of Exploration, mercantilism was the main economic philosophy. Mercantilism is a collection of governmental policies for the regulation of economic activities, mainly commercial activities, by and for the state. There are multiple ideas that characterize mercantilism. Mercantilism is characterized by the country applying policies and institutions such as the Navigational Acts, towards […]

Q1. Is the experience of the United States, as described in the case, consistent with the pattern of international trade? Explain international trade theories and illustrate the pattern of trade with information provided by the case. 1. According to case, United States invented most of the information technology that we use today. In the 1980s, the locus of growth in the sector shifted to personal […]

Throughout the world, countries engage in international trade every day. The result of international trade is that it produces mutual benefits among the countries that are involved. However, when a country engages in trade protection, it hurts both the domestic consumers and foreign export industries. Three arguments that are used to promote trade barriers are the national security argument, the infant industry argument, and the […]

HOMEWORK 11 (Last HW – Due 4/28) Read the Logitech case and answer the following questions. 1: In a world without trade, what would happen to the costs that American consumers would have to pay for Logitech’s products? 2: Explain how trade lowers the costs of making computer peripherals such as mice and keyboards. 3: Use the theory of comparative advantage to explain the way […]

International Trade Trade Most economists believe in free trade – the movement of goods between countries in the absence of harsh restrictions placed upon this exchange. The comparative cost principle is that countries should produce whatever they can make the most cheaply. Countries will raise their living standards and income if they specialize in the production of the goods and services in which they have […]

Law chosen to govern a transactions is clearly state the legal consequences of their contractual activities for example the right, obligation, and remedies for involve parties, and they can choose the law of particular country or international law to govern their contract. International trade law (CISG) includes the appropriate rules and customs for handling trade between states and it forms part of domestic law if […]

Group D INTERNATIONAL TRADE, COMPARATIVE ADVANTAGE AND PROTECTIONISM 1. According to the table above determine which country has the absolute advantage in corn and which in soybeans. In addition, determine which country has the comparative advantage in corn and which in soybeans. Make sure to support your answer by deriving the opportunity costs of each. Ans. A producer with absolute advantage over the other in […]

Introduction to Management BU106 The Role of International Trade Harriette Sane-aka Herzing University The United States has been constant in keeping an open market for quite a while and that has helped the production of goods extraordinarily. The Open market was not always the norm, and for most of American history, the United States imposed sanctions on outside imports in an effort to protect those […]

International Trade is the Trade between different countries. Purchase from and sale of goods and services outside the country is called international Trade/foreign Trade. Foreign Trade plays an important role in accelerating the process of economic growth of a country. Foreign Trade can be divided in to the following three categories: Import Trade-when goods are purchased from a foreign country, Export Trade-when goods are sold […]