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Global Trade Environment (Competition & Trade Among Nations…
Global Trade Environment
Competition & Trade Among Nations
Comparative Advantage
Relative
David Ricardo, 1819
Specialised Production
Price Difference
Michael Porter - Diamond Model
Structure of firms and rivalry
Demand conditions
Related and supporting industries
Factor conditions
4 influences plus governments
Absolute
Adam Smith, 1776
Traded against home product advantage
Better to buy cheaper elsewhere
Competition Among Business Organisations
Porter's Five Forces
Suppliers
Substitutes
Industry Competitors
Buyers
Potential Entrants