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- 1. What is the law of comparative advantage, and why is it important in international trade?What is Inter-industry and Intra-industry trade? How do economies of scale and product variety provide an explanation for Intra-industry trade? do not copy from anywhere. plase write in your words for up vote.15. Why do countries' governments impose commercial policies on international trade? Give one example of a commercial policy.
- Analyze and explain when a firm should consider expanding from strictly domestic trade to international trade. What should it consider when becoming further involved in international trade?9. It has been stated that a partial explanation of intra-industry trade is provided by:a. The principle of absolute advantageb. Highly competitive product marketsc. Diseconomies of large-scale productiond. International transport costsHow does international trade affect working conditions of low-income countries?
- Name several of the international treaties where countries negotiate with each other over trade policy.1) A) What explains intra-industry trade? B) What is substantial scale economies?10. major features of the linder theory of trade are that it focuses on ___. ---- patterns in countries and also introduces, in contrast to traditional trade theories, the general concept of trade a. demand; intra-industry b. demand; inter industry C. supply; intra industry d. supply; inter industry