Domestic environment that encourages competition

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Reference no: EM131612069

In several of the chapters we've covered, it has been mentioned that certain countries/regions are more dominant in international trade than others based on some key traits they have. These include: a large, demanding population; abundance in factors of production (labor, capital, natural resources); a domestic environment that encourages competition and strong infrastructure which includes a local supplier base. Why are these elements important? Does the US have all of these? Are we stronger in certain of these areas than others? (this may become important in future assignments)

Reference no: EM131612069

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