Discuss the below in a 250 words each:
International Business
Trade Theory
Compare and contrast the theory of absolute advantage and the comparative advantage theory. Give an example to support your response. Explain Porter's Diamond theory and discuss the importance of this theory and its implication. Support your answers with examples.
Trade Control and Free Trade
Answer to following:
a. Explain what trade control is. What are the instruments of trade control? Discuss the pros and cons of using trade control. Support your answers with examples.
b. Go to the USDA's page on NAFTA (North American Free Trade Agreement). Explore the insights into NAFTA and discuss the impact of NAFTA on its members.