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10 questions about Economics of Globalization

10 questions about Economics of Globalization

10 questions about Economics of Globalization

Question Description

  • Explain the different between tariff and quota Like:Tariff: markets decide quantity Quota: government decides quantity
  • Why tariffs are #1 form of protection? (2 to 3 reasons)
  • Why uncertainty is really important in international trade?
  • Culture:why important in business world? Know what international trade is (we live in a global economy so what does that mean?)
  • Define what an American made product is
  • Different between imports and exports
  • Define comparative advantage – be able use lower opportunity cost
  • Other types of protection beside tariffs and quotas
  • Types of tariffs and how fully work. Like:
    • Free on board
    • Insurance replacement
  • Why must we take Economics of Globalization class?

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