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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