Section A.

1) Describe the various forms of economic integration in Europe. What is Brexit,

and what are the implications for Great Britain's relationship with Europe in terms of global trade.

2) Explain, giving examples, as to why "jurisdiction" plays an important role in global marketing?

3a) U.S. President Donald Trump's "America First" agenda is one example of the way some nations are retreating into protectionism and isolation. Do you support Trump's protectionism? Why or why not?

b) Explain, with example(s), the benefits of competitive advantage and show how globalization presents companies with unprecedented opportunities.

4) Explain what are the distinguishing features between centrally planned socialism and centrally planned capitalism? Give examples of two or more countries which follow these systems.

5) A laptop manufactured in Canada and imported by Chile would not be subjected to duty. If the same laptop was manufactured in the United States and exported to Chile, it will have to pay duty. In order to avoid duty, can the manufacturer in the United States send the computer via Canada?

6) When a company invents a product or service, it should have a right to defend its creativity with intellectual patents. However, there are some countries like Italy and China where piracy and copyright violations are common. How can a corporation prevent this by having some built-in measures in products and services?

7) London's Sunday Times reported that Mecca-Cola has become the drink which has come to be seen as "politically preferable" to Pepsi or Coke in many Muslim countries. Also, Danish products were boycotted in many Islamic countries in protest of an offensive cartoon that was printed in Danish newspapers. Considering these two examples, explain with your own examples to show how religion can have an impact on marketing.

8) There's a saying in the business world that "nothing fails like success". Take Gap, for example. How can a fashion retailer that was once the source for wardrobe staples such as chinos and white T-shirts suddenly lose its marketing edge? Motorola has also fallen victim to its own success. The company's Razr cell phone was a huge hit, but Motorola struggled to leverage that success. Google acquired Motorola Mobility but then sold it to Lenovo in 2014. Recently, Starbucks CEO Howard Shultz warned that his company and brand risk becoming commoditized. And, some industry observers are saying that Apple has "lost its cool". As an International Marketing student, if you were to make separate recommendations to management at each of these companies, what would you say?

Two.

To get people excited about economics it's good to try and think how economics can be applied in

everyday life. Some of this is just common sense, but economics can help put a theory behind our

everyday actions.

Description:

In this "Reflection" you are to CHOOSE 'ONE' Application from the list of 9 options attached. You

are to provide additional examples, or situations, and REFLECT back to the economic theories

studied in class. Read your choices, then choose only 1 application, and address the following

questions/discussion points:

1. What, in the ONE APPLICATION chosen, provides evidence of a connection to the microeconomic

models or theories you have studied in this course? Do you agree or disagree AND why? Be specific.

2. Provide ANOTHER (different) example, based on the Application your chose, to show your

understanding and connection to the model or theory you have learned in this class.

3. Provide 'in your own ' (Reflection) an opinion about how you are able "apply Economics in

Everyday Life" based on this application or assignment.

**Include your references, or sources, in your submission. Or a hyperlink embedded in your

submission, if you are using information or research that is not your own per APA requirements.

Your reflection should be between 250 and words or one page double , 11 or 12 pt font.

Note; if you are able to demonstrate the concepts and applications discussed (using specific models,

graphs, or images), it would greatly enhance your assignment.

Topic i chose for this assignment is Opportunity cost

Opportunity Cost

The first lesson of economics is the issue of scarcity and limited resources. If we use our limited budget for buying

one type of good (food), there is an opportunity cost - we cannot spend that money on other goods such as

entertainment. Opportunity cost is an intrinsic aspect of most economic choices. We may like the idea of lower

income tax, but there will be an opportunity cost - in this case, less government revenue to spend on health care

and education.

iii.

Here is some balance of payments data for a country (in bln USD):

Merchandise export = 200

Merchandise import = 180

Primary income payments from abroad = 50

Primary income payments to non-residents = 70

Unilateral international transfers from abroad = 10

Unilateral international transfers to non-residents = 5

Capital account balance = 0

Change in foreign direct investment to abroad = 15

Change in foreign direct investment from abroad = -25

Balance on portfolio investment= 50

Balance on other investment= -80

Change in international reservesii= -10

Net errors and omissions = -30

Find the balance on trade in services for the given period.