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Explain adam smiths theory of absolute advantage

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Assignment

1- How has trade in merchandise and services changed over the past two decades? What have been the major trends? How might this information be of value to a manger?

2- A- Explain Adam smith's theory of absolute advantage.

B- how does Ricardo's theory of comparative advantage differ from the theory of absolute advantage?

3- Name some product that you believe have passed through the four stages of the international product life cycle.

4- According to theories presented in the chapter, why do companies engage in foreign direct investment?

Reference no: EM131383680

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