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Theories of International Trade and International Investment ( Chapter 3),…
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Porters Diamond
Factor Conditions
labor, land, natural resources, capital, and infrastructure. Elements difficult to duplicate therefore generating a competitive advantage
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Strategy, Structure and Rivalry
Strategy being based on the concept of a short term market or a long term market. Structure on how the management style of industries varies. Rivalry suggesting that competition impulses the industry to thrive.
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Mercantilism
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Promote Export, discourage import
International Trade
Def: The exchange of goods and services between people, organizations, and countries.
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Absolute Advantage
The majority efficiency a country has in producing a unit with fewer man hours required than another county.
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