Part 3 Short Answer Questions (40 points, 10 points for each questions) Explain the meaning of GDP, GDP per capita and PPP used to measure National Economic Output. GDP per capita is roughly the same in Nigeria, Pakistan, and Honduras, do you think the three countries have about the same standard of living, if not, why? 2. Define the term "culture," and discuss three comparative ways of differentiating cultures. How the cultural differences affect the international business? 3. How do the international strategies affect the trade-offs managers must make between local responsiveness and global efficiency? 4. If you were going to build a plant overseas, what factors would you take into account when making your location decisions