Assignment:
Question 1. Describe the two main facets of globalization. Explain how each of these components of globalization has helped create the shift towards a more integrated world economy.
Question 2. Describe the World Trade Organization and its role in international business?
Question 3. What is meant by the term "political system?" What are the two related dimensions by which a political system can be assessed?
Question4. Describe the three main legal systems, and for each, give an example of a country that uses such a system.
Question 5. Describe what is meant by the term "culture?" Differentiate between the terms culture, values, and norms.
Question 6. What are some of the similarities between Islam and Christianity as they relate to the practice of business?
Question 7. Identify the most common ethical issues that may arise in the international business setting. Discuss the roots of these issues. Discuss how managers of international firms should address such issues.
Question 8. When does free trade occur?
Question 9. Describe what is meant by first-mover advantages?
Question 10. What is a tariff? Describe the difference between specific tariffs and ad valorem tariffs.
Question 11. What is a subsidy? Provide some examples of the forms that subsidies take. How do subsidies help domestic producers?