Question: 1. Explain what is Global Trade and why it is important? 2. Explain the following: Comparative Advantages vs Absolute Advantages Balance of Payment vs Balance

1. Explain what is Global Trade and why it is important?

2. Explain the following:

Comparative Advantages vs Absolute Advantages

Balance of Payment vs Balance of Trade

3. Pick FIVE items from the following list of major strategies for reaching Global Market to explain. Quote examples.

Licensing

Exporting

Franchising

Contract Manufacturing

Joint Ventures

Strategic Alliances

Foreign Direct Investment

4.Describe how Electra maintains a worldwide comparative advantage.

5. What are some global difficulties Electra had to overcome when it expanded into different countries?

6. Why did Electra- which markets itself with a "genuine Americana" message - decide to outsource production to Asia? Do you believe this is appropriate?

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