| Term | Definition |
|---|
| Mercantilsim | Do whatever it takes to increase your trade surplus, uses high import barriers and export subsidies, Increases national wealth but decreased consumer satisfaction, |
| Neomercantilism | use of protectionist trade policies in an attempt to run favorable balances of trade |
| Hecksher-Ohlin Theory | Factor Endowments |
| Leontief Paradox | developed countries export many labor intensive goods, although they are capital intensive countries |
| Reasons For Trade | Absolute Advantage, Comparative Advantage, Hecksher-Ohlin Theory, Product Life Cycle, Economies of Scale, Diversification, Cost of Technology Development |
| Competitive Advantage 4 Determinants | Factor Endowments, Demand Conditions, Realating Industries, Firm Strategy-Structure |
| Global Stratehy Rivalry Theory | Owning intellectual Property Rights, Investing in R&D, Achieving economics of scale or scope, |
Combine with other sets
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