ECO4451 questions

ECO4451 questions.

I’m stuck on a Economics question and need an explanation.

1.Explain the different between tariff and quota

Like:Tariff: markets decide quantity

Quota: government decides quantit

2.Why tariffs are #1 form of protection? (2 to 3 reasons)

Justifications for protection?

3.Why uncertainty is really important in international trade?

4.Culture:why important in business world?

Diference between face saving success culture base

Saying yes even if you mean no? Know what international trade is (we live in a global economy so what does that mean?)

5.Define what an American made product is

There is no such thing

Global trade means everything wu use has been imported/exported somewhere

6.define what taboos are-universal (but not for outside) inside V. outsides

7.Different between imports and exports

8.Define comparative advantage – be able use lower opportunity cost

9.Other types of protection beside tariffs and quotas

10.Types of tariffs and how fully work

11.Why must we take Economics of Globalization class?

ECO4451 questions

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