Difference in absolute advantage and comparative advantage

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1. How does a business decide whether to trade with a foreign country? What are the key factors for participating in the information economy on a global basis?

2. What is the difference between absolute advantage and com- parative advantage? Give an example of each.

3. Identify several potential barriers to communication when a company attempts to conduct business in another country. How might these be overcome?

4. What are the major nontariff restrictions affecting interna- tional business? Describe the difference between tariff and nontariff restrictions.

5. What are the key choices a company must make before reach- ing the final decision to go global?

Reference no: EM131282825

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