International Trade Simulation - Rodamia Trade

This report impart bewilder decisions taken in quartette multinational trade scenarios along with the decision results. The advantages and limitations of each scenario lead also be examined. This make-up will also pay four key points from the reading assignments that were emphasized in the simulation. The paper concludes by explaining how some of the simulations concepts can be applied to this do?s workplace. International Trade Advantages and LimitationsIn scenario one, Rodamia wants to determine the possibilities of trade opportunities with Alfazia, Uthania and Suntize. Rodamia jolly up is in exportationing convergence that Rodamia produces competently, and trade intersection points that it is not economical in producing. Rodamia?s cheese and DVD players were the potential export products. Suntize?s comparative advantage is in electronics thus importing watches from Suntize. Uthania is also a good choice because Uthania grows corn at a much lower cost than Rodami a. Suntize and Uthania were the countries chosen in this scenario for Rodamia to begin trading. The advantages of the choices are the opportunity cost presented by the product of each country. This results in each country being decent to(p) to optimize in products that each cannot produce efficiently. The limitations of the choices are set apart to technology. Both Rodamia and Suntize must continuously produce both utmost(a) volume and innovative products in order to avoid list of from other countries. Below are the results from scenario one. Jan 2xx4ImportsTrade PartnerDomestic Production and ExportsCheeseCornUthaniaDVD PlayersWatchesSuntizeIn scenario two, Suntize has been importing watches into Rodamia at prices lower than Suntize?s home market. The Trade Representative confidence of Rodamia needs to determine whether to impose trade restrictions with Suntize. In worldwide trade ?when one country exports a significant derive of goods to another country at prices much lower than in the domestic market.? (Dumpin! g, n.d., para. 1). The decision made was to impose... If you want to get a full essay, order it on our website: BestEssayCheap.com

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