International Business

THIS IS EXTREMELY URGENT

NEEDED IN 5 HOURS MAX!

Answer the following questions as thoroughly as possible.( 100-200 words per answer)

1) In a short essay, discuss the theory of mercantilism and discuss favorable and unfavorable balances of trade as they apply to international business.

2) What is the difference between the free trade theories of absolute advantage and comparative advantage? How can free trade improve global efficiency?

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