mark6 slidedeck - overview of international marketing theories of trade
DESCRIPTION
Lecture 2 ofTRANSCRIPT
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international marketingPresented by Lindsey Fair
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4 drivers of globalization
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environmental
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market
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cost
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competitive
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theories of international
trade
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mercantilism
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absolute advantage
A nation has a monopoly on a product or can produce it at the lowest cost. And has the ability to produce something with fewer resources than other producers would use to produce the same thing.
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comparative advantage
A country, individual, company or region can produce a good at a lower opportunity cost than that of a competitor.
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heckscher-ohlin model
A capital-abundant country will export the capital-intensive good, while the labor-abundant country will export the labor-intensive good.
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product cycle theory
production gradually moves away from the point of origin
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linder theory
The more similar the demand structures of countries, the more they will trade with one another. (a.k.a. Country Similarity Theory)
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krugman’s model
national specialization-by-industry
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diamond of national advantage
create new advanced factors vs. relying on natural competitive advantage.