What is the connection between the competitive advantage of a firm and the competitive advantage of a nation? In a short essay, explain the nature of the relationship between firms and nations.

describe country risk and discuss how political and legal systems contribute to country risk. Explain the differences between political systems and legal systems in your answer.

Explain why contract laws can represent a country risk arising from the host-country legal environment and explain the three approaches firms typically employ to settle international contractual disputes.

Explain the connection between democracy and economic freedom. What are some of the characteristics associated with political and economic freedom?