Use the theory of the week to confront the different views with critical thinking; personal opinions are not welcomed. Explain the benefits of free trade. You must summarize the readings of the week; you must provide real life examples and explain them using the theory. Explain the controversies over free trade, who are the winners …
How would you determine the level of competitive intensity in an industry?
How would you determine the level of competitive intensity in an industry?
One of the assumptions of a perfectly competitive market is that firms within the industry are selling homogenous, or identical, products. Can you think of an example of an industry (not given directly in the chapter) where this is a good assumption? How does this impact competition within this industry?
How did the development of quinine affect the imperial mission of the industrialized powers? How important was it, compared to transportation technologies like the steamship?
After the fall of Constantinople, the Ottoman Empire took over rule in many countries and that held back all the countries under rule from the Industrial Revolution and any other revolutionary ideas.
