Question 1: Describe the meaning of the term "trade barriers"? What measures have been taken by the world community to reduce the impact of trade barriers on international trade? (Long answers)

Question 2: Describe the difference between collectivism and individualism. Are these two ideologies compatible or in direct conflict? Which ideology seems to be gaining ground and which ideology is waning? Is this good news or bad news for international commerce? Explain your answer. (Long answers)

Question 3: How important is innovation in economic progress? Does innovation have a better chance of catching hold in a market economy or a planned economy? Explain your answer. (Long answers)

Question 4: What do Servant Leaders do? List 5 activities. (Long answers)

Question 5: You manage a company that produces and sells cameras that work under water. The camera bodies are made in China, in a facility your company owns, and which employs about 500 people. The electronics for the camera are bought from a supplier in South Korea. The lens and optics are made in your own facility in Japan, which employs about 300 people. The final product is also assembled and packaged at this facility in Japan. Your company currently employs about 350 people in Canada (head office functions, advertising, legal, and sales). You are a successful company, in business for many years, and you hope to expand your sales around the globe. What have been the two most notable trends in these types of enterprises since the 1960s? (Long answers)