Introduction:

Argues about the importance of international trade in the global era.

Content:

Explain how the adoption of international trade strategies contributes to the growth of companies and the economy of countries. When presenting your answer, integrate concepts such as: international trade, imports, exports, product life cycle, absolute advantage and comparative advantage.

Firms are leaning towards specialization and differentiation of their products and services. How can theories of economies of scale and product differentiation explain market trends?

In your own words, explain theories of first-move advantage and national competitive advantage. It includes examples from companies and countries that show the adoption of these theoretical assumptions.

Discuss how countries promote free trade and, in turn, protect the local economy from foreign investment. When presenting your answer, explain the concepts: tariffs, trade barriers, import subsidy and quota, free trade policies, protectionism, trade deficit and surplus.

Explain how the World Trade Organization (WTO) promotes the global integration of companies and countries.

Mentions and describes the regional trade agreements of the European Union, USMCA, Mercosur, ASEAN-APEC-TPP). In your answer you must include the countries that these bring together and what each agreement consists of.

Conclusion:

In your own words, explain how knowledge of trade theories and policies helps to understand the environment and develop strategies to meet global challenges.

References:

Include a minimum of 3 references.