Visit World Business Culture (Links to an external site.)Links to an external site. and choose two countries that appear to be culturally diverse. Compare the culture of those countries and then indicate how cultural differences influence:
- The cost of doing business in each country
- The likely future economic development of that country
- Business Practices
Why do people trade? When answering this question consider the history of trade and how trade has influenced history. Consider the theories of Absolute and Comparative Advantage. Incorporate thoughts on the Ricardian model, Heckscher (1919) – Olin (1933) Theory, Leontief Paradox and the New Trade Theory.