Gautam Kumar Jha

  What do you mean by globalization? Describe major forces of globalization with suitable examples. Course Code : IBO – 01 (M.com) IGNOU  2020-21 Course Title : International Business Environment Assignment Code : Q-2) What do you mean by globalization? Describe major forces of globalization with suitable examples.   Answer -   Globalization is the spread of products, technology, information, and jobs across national borders and cultures. In economic terms, it describes an interdependence of nations around the globe fostered through free trade. On one hand, globalization has created new jobs and economic growth through the cross-border flow of goods, capital, and labor. On the other hand, this growth and job creation is not distributed evenly across industries or countries. Specific industries in certain countries, such as textile manufacturing in the U.S. or corn farming in Mexico, have suffered severe disruption or outright collapse as a result of increased international competition.

  modern theory of international trade Course Title : International Business Environment Assignment Code :   Q-1 Critically examine the modern theory of international trade. Solution - The contemporary theories of trade deviate from the assumptions of perfect competition and constant returns to scale made both in classical and the neoclassical models, Modern theory takes a more pragmatic approach emphasizing a market structure having monopolistic or oligopolistic character and economy of scale in production. In former cases a large number of producers produce goods that's are not identical but not differentiated in quantity or design. in the latter case, only a few producers serve the market with either identical products or differentiated products. the products which are just differentiated horizontally are similar in quantity but different in design like a red pen and a blue pen, white wine and red wine or wooden furniture and steel furniture. vertical products differentiated, th