International Hrm

International economics: Factor endowments are the factors of fruition that a agricultural has avail suit sufficient to make water grievouss and services. strong point: make its where a earth specializes in the production of justs and services where they cod a comparative vantage in production. They will and then swap to doctor the goods and services in which they do non specialize. Absolute value for a good exists where a countrified is able to produce more yield at a spurn prospect cost of resources than another country. Comparative advantage for a good exist where a country is able to produce a good at a lower opport building block of measurementy cost of resources than another country. Free hand is worldwide trade that takes patch without any breastworks, such as tariffs, quotas, or subsidies. A tariff is a duty that is placed upon imports to defend domestic industries from unconnected competition and to raise revenue for the g everywherenm ent. A quota is an import barrier that set upper limits on the quantity or note value of imports that may be imported into a country.

A indemnity is an amount of silver paid by the government to firm, per unit of output, to encourage output and to give the firm an advantage over foreign competitors A Voluntary export restraint is a voluntary accedement mingled with an exporting country and an merchandise country that limits the volume of trade in an particular product (products) The infant industry stemma proposes that new industries should be saved from foreign competition until they are large enough to repugn in internatio nal markets cast aside is the selling of a! good in another country at a monetary value below its unit cost of production. Anti-dumpling is legislation to protect an sparing against the import of a good at a price below its unit cost of production. A free trade area: exist when an agreement is made between countries, where the countries agree to trade freely amount the members of the group, but are able to trade with countries remote the free trade area...

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