Describe the World Trade Organization and its role in international business?

3. What is meant by the term “political system?” What are the two related dimensions by which a political system can be assessed?
4. Describe the three main legal systems, and for each, give an example of a country that uses such a system.

5. Describe what is meant by the term “culture?” Differentiate between the terms culture, values, and norms.
6. What are some of the similarities between Islam and Christianity as they relate to the practice of business?

7. Identify the most common ethical issues that may arise in the international business setting. Discuss the roots of these issues. Discuss how managers of international firms should address such issues.
8. When does free trade occur?
9. Describe what is meant by first-mover advantages?

10. What is a tariff? Describe the difference between specific tariffs and ad valorem tariffs.

READ ALSO :   describe and analysis in the yellow part with following instructions. Describe the paths of the variables and provide economic intuition for why they look this way. Consider changes in each of your parameter values: beta, del, alpha, thet. Explain what role each parameter plays in your model. Why do they differ in the ways they do when you change the values?