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Discuss the theory of mercantilism in detail

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Reference no: EM132069457

Question: 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?

Reference no: EM132069457

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