BUSN 115 International Trade

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BUSN 115 International Trade
Most of the world’s population lives outside the United States. However, many U.S. companies…

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BUSN 115 International Trade

BUSN 115 International Trade

Discussions Week 2 All Students Posts – 50 Pages

Most of the world’s population lives outside the United States. However, many U.S. companies, especially small businesses, still do not engage in international trade. Why do you think this is the case? If you were a small business owner, would you want to engage in international trade? Why? Why not? What impact would your endeavors in international trade have on your business? Why? Many people believe that imposing quotas, tariffs, or embargoes upsets the theory of comparative advantage, which is based on free economic exchange. According to the theory, companies should sell products to other countries that they can most efficiently produce, and buy products from other countries that can produce them more efficiently.

Comparative advantage can sometimes be a difficult concept for people to understand. Our written lecture this week can be interpreted as an example of using Unit X (United States) and Y (Colombia), and Products A (growing coffee beans) and B (producing coffee), to explain the theory. Often, this can seem even more confusing. Let’s try as a class to come up with companies and products to make an example of comparative advantage. Let’s make some sense of this theory! I look forward to the discussion…Who would like to start?…