The theory of argues that each nation should specialise in producing those goods it could produce most efficiently
Answer: absolute advantage

organization is directly the organ that is used in regulating the international trade
Answer: world trade

Modem day mercantilism is called
Answer: economic nationalism

argued that under free unregulated trade, each nation should specialise in producing those goods it could produce most efficiently
Answer: adam smith

It is believed that the has the largest population of high income consumers in the world
Answer: us

‭ ‬comprises of uncontrollable forces that have their roots in the home country and these influence the cycle and development of the firm
Answer: demestic environment

The international product life cycle, IPLC passes through stages America
Answer: four

Manufacturers look for ways of satisfying their consumers, because of this, they invest in
Answer: research and development

Merchantilism era ended in the late
Answer: 1700s

consists of transactions that are devised and carried out across national borders
Answer: international business

according to Ball et al (2002) is the sum of all the forces surrounding and influencing life and develop of the firm
Answer: environment

The model of trade presents a more empirical analysis of trading patterns rather the more theoritical model
Answer: gravity

Durin depression, domestic economy tries to favour
Answer: increased tariff

The international product life cycle, is related to
Answer: product life cycle

includes bilaterial agreements among nations
Answer: international trade

products are mostly in favour of free trade
Answer: agricultural

treaties were used as a regulating mechanism between two nations
Answer: bilateral

International trade in Nigeria includes
Answer: export and import

The model was produced as an alternative to the Ricadian model of basic comparative advantage
Answer: heckscher ohlin

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