· Resources: Applying International Trade Concepts simulation and Principles of Economics
· Write a 1,050- to 1,750-word report in which you address the following:
o List at least one advantage and one limitations of International Trade as identified in the simulation.
o Identify four key points from the reading assignments that were emphasized in the simulation.
o Define absolute and comparative advantage.
o Describe the influences affecting foreign exchange rates.
o As a team, debate the issues surrounding international trade.
o For each member of the team, what were the Concept Summary results for the assessment?
o As a team, evaluate the effects of government policy on economic behavior.
o Go to the World Trade Organization website (www.WTO.org) to address the following: What is the WTO? Briefly describe one trade topic identified by the WTO on the website. And, what did you learn from the Web site about the WTO?