Q1.  (a) Identify 3 types of competition that most firms encounter other than competition from other firms in their industry in their home nation.

(b) Is it good for the economy to have more competitive marketplaces? Elucidate.

(c) If government industry regulators underestimate the degree of competition in an industry are they likely to over-regulate the industry? Elucidate

Q2. Talk about the trade balance among China also the U.S. for the period of 2007 2011. In your Talk about, comprise an analysis of the effect of such trade balance on the economies of China also the U.S., both individually also comparatively. Justify your Discussion also analysis by using appropriate examples