Author Question: In a short essay, explain what the world would be like without international trade. What will be ... (Read 167 times)

vinney12 · **on:** Jul 7, 2018

In a short essay, explain what the world would be like without international trade.

What will be an ideal response?

Question 2

In a short essay, discuss five methods managers can employ to protect the interests of the focal firm in relationships with foreign suppliers.

What will be an ideal response?

katieost · **Reply #1 on:** Jul 7, 2018

Answer to Question 1

Without international trade, most nations would be unable to feed, clothe, and house their citizens at current levels. Even resource-rich countries like the United States would suffer immensely without trade. Some types of food would become unavailable or obtainable only at very high prices. Coffee and sugar would become luxury items. Petroleum-based energy sources would dwindle. Vehicles would stop running, freight would go undelivered, and people would not be able to heat their homes in the wintertime. In short, not only do nations, companies and citizens benefit from international trade, modern life is virtually impossible without it.

Answer to Question 2

The focal firm should 1. take specific actions to safeguard its interests in the supplier relationshi