International Trade Simulation - Rodamia Trade

This report impart bewilder decisions taken in four multinational trade scenarios along with the decision results. The advantages and limitations of each scenario volition also be examined. This piece will also exemplify four key points from the reading assignments that were emphasized in the simulation. The paper concludes by explaining how some of the simulations concepts can be applied to this induct?s workplace. International Trade Advantages and LimitationsIn scenario one, Rodamia wants to determine the possibilities of trade opportunities with Alfazia, Uthania and Suntize. Rodamia revolutionize is in exportinging convergence that Rodamia produces competently, and merchandise yields that it is not in force(p) in producing. Rodamia?s cheese and DVD players were the potential export products. Suntize?s comparative advantage is in electronics thus importing watches from Suntize. Uthania is also a good choice because Uthania grows corn at a much lower cost than Rodamia. Suntize and Uthania were the countries chosen in this scenario for Rodamia to begin trading. The advantages of the choices are the opportunity cost presented by the product of each country. This results in each country being decent to(p) to optimize in products that each cannot produce efficiently. The limitations of the choices are isolate to technology. Both Rodamia and Suntize must continuously produce both result volume and innovative products in order to avoid line of from other countries. Below are the results from scenario one.

Jan 2xx4ImportsTrade PartnerDomestic Production and ExportsCheeseCornUthaniaD VD PlayersWatchesSuntizeIn scenario two, Sun! tize has been importing watches into Rodamia at prices lower than Suntize?s home market. The Trade Representative agency of Rodamia needs to determine whether to impose trade restrictions with Suntize. In foreign trade ?when one country exports a significant make headway of goods to another country at prices much lower than in the domestic market.? (Dumping, n.d., para. 1). The decision made was to impose... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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