Graded Homework

Chapter 1:

1. 1. Question 1 – Given the total volume and importance of international trade and international exchanges, describe the implications to someone’s career in business, and to your education in particular.
   2. Question 3 – Wal-Mart is famous for requesting ever lower price points from its suppliers: if a supplier offers a product for $45.00, Wal-Mart will ask the supplier to consider introducing a similar product for $39.00. According to the Heckscher-Ohlin Factor Theory, which consequences do such requests have?

Chapter 2:

1. 1. Question 2 – What are the principal distinct components of international logistics?
   2. Question 3 – What are the major costs of international logistics? Given what you read in Chapter 1 about the World Trade Organization, what trend do you expect these costs to follow?
   3. Question 4 – MRP and DRP have allowed manufacturers and retailers to carry less and less inventory. What consequences would a major snow storm or disruption of transportation have on such Just-In-Time management systems?