Explain the underlying rationale for global trade and explain the difference between comparative and absolute advantage
After reading Chapters 2 and 3 in the text, reflect and discuss the following questions:
Explain the underlying rationale for global trade and explain the difference between comparative and absolute advantage?
What are the essential factors for economic growth and increased development of global trade flows? Why are they so important in today’s global economy?
Provide a definition of logistics and a rationale for why is it important in private companies and public organizations?
Explain the importance of logistics on a macro level and the contributions of logistics to the economy?
Use the following headings to organize your paper: Introduction, Question 1, Question 2, Question 3, Question 4, Conclusion, References.
Answer preview Explain the underlying rationale for global trade and explain the difference between comparative and absolute advantage
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