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Summary Unit IV Essay.docx (2) MBA 6053 Affection of international trade to the market MBA 6053 Economics for Managers Abstract From the olden days, people knew to exchange goods with ea
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Unit IV E (2) MBA 6053 Affection of international trade to the market MBA 6053 Economics for Managers Abstract From the olden days, people knew to exchange goods with each other in exchange for other goods. With the develo...
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MBA 6053
Affection of international trade to the market
MBA 6053
Economics for Managers
Abstract
From the olden days, people knew to exchange goods with each other in exchange for other
goods. With the development of the world today, such exchange activities have been
upgraded to the exchange of goods and services commercially between countries.
International trade contributes significantly to the national GDP. It helps each country to
promote its main industries and promotes continuous economic development. Each strategy
has different characteristic. The manager will put himself in a role of the player and decide
when he choose strategies for maximum personal benefits or when to choose the optimal
strategy for the crowd.
Affection of international trade to the market
This paper discusses the change before and after the international exchange of goods and
services. Before a country opens up trade, some domestic companies have market power
in particular industry. The emergence of the international trade model gives country many
opportunities to gains profits in general and domestic companies are constantly
improving to compete with foreign competitors in particular. The influence of
international trade is huge for a nation’s development. It can change from an industry
with a monopoly power to a perfect competition. The manager needs to know to grasp the
right strategy to achieve the common economic benefits of the country.
, International trade is the exchanges manufactured goods that takes place between
countries. This allows countries can buy services and goods at cheaper price or to consume
services and goods that cannot supplied domestically. The main purpose of this exchange is
maximum profits, to enable countries to participate in the division international labor.
“The process of export opportunity identification should be geared toward the
development of a set of product/ market pairs, ranked or grouped by potential desirability”
[ CITATION Gre85 \l 1033 ]. When the COVID-19 appear, the world becomes troublous.
People have to fighting to survive with the diseases. They need utensils to protect themselves
from the risk of inflection such as: gloves, hand sanitizer, facemask. That’s why the demand of
these goods increasing rapidly in short time. Before the diseases citizen of Vietnam just pay $1
for one box of facemask with 50 pieces. When the government of Vietnam announced the
severity of the epidemic, people began to buy lot of facemask to store. In that period people just
want to buy facemask more than anything goods available because of worring about the shortage
in the market. It really happened. At the end of 2019, Wuhan – province of China is considered
to be a place of outbreaks so most of their product activities are closed. The government of
China had to import the essential goods to serves the people. The producers in Vietnam did not
have enough quantity of facemask to provide because domestic demand skyrocketed. In other
hand, producers were stockpiling product to export to the world. As of March 2020, “China
exported around 4 billion masks” [ CITATION TuA20 \l 1033 ]. On the domestic producer’s
side, they really gained huge revenue from export facemask to the world in short time. Many
firms were starting entry to facemask market and also achieved quite high profit in the short
time. It indicates an increase in supply of facemask industry. In other words, the widespread
epidemic is a good opportunity for
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