Resources: Applying International Trade Concepts simulation and Principles of Economics

Write a 1,050- to 1,750-word report in which you address the following:

o List at least one advantage and one limitations of International Trade as identified in the simulation.

o Identify four key points from the reading assignments that were emphasized in the simulation.

o Define absolute and comparative advantage.

o Describe the influences affecting foreign exchange rates.

o As a team, debate the issues surrounding international trade.

o For each member of the team, what were the Concept Summary results for the assessment?

o As a team, evaluate the effects of government policy on economic behavior.

o Illustrate what is the WTO? Briefly describe one trade topic identified by the WTO on the website. And, what did you learn from the Web site about the WTO?