Provide short answers (do not go beyond 175 words each) to the following questions. Giving specific examples is particularly encouraged.

1. How does globalization benefit companies and consumers? Any negative impact of globalization on the two?

2. How could the level of protection of intellectual property rights influence the decision of investors to invest in a country?

3. Give two examples to show how culture influences the way of doing business, or what can be bought and sold, across borders.

4. Using one certain theory you have learned (of Smith, Ricardo, Krugman, Heckscher and Ohlin), explain why free trade is a good thing that should be adopted by all countries in the world.