Absolute advantage and comparative advantage

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1. Describe the classic theories of international trade. Which theories do you believe are relevant today? What is the difference between the concepts of absolute advantage and comparative advantage? Summarize factor proportions theory. What factors are most abundant in China, Japan, Germany, Saudi Arabia, and the United States? Visit globalEDGE™ for helpful information.

2. Should American oil companies (Haliburton, ExxonMobil, etc.) continue to invest and do business with Putin’s Russia? What are the benefits for relationships with Russia, and what are the economic results?

Clue: Google – Russia Haliburton, or Russia ExxonMobil

Reference no: EM132231849

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