10 questions about Economics of Globalization
- 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?