Telegram group: T.me/BBCNOUN [BUS726] Under a _______________, prices emerge from the equilibration of supply and demand, and are the sole determinant of resource allocation free trade policy [BUS726] ______________ deals with the proper allocation and efficient use of scarce resources Economics [BUS726] _______________ theory tries to explain empirical elements of trade that comparative advantage-based models have difficulty with New Trade Theory [BUS726] __________________states that global competitiveness is a bit like golf, you get better by playing against people who are better than you Carbaugh (1998) [BUS726] __________________ believes that globalization can and should be reversed Douthwaite (1996) [BUS726] __________________form of international trade involves soliciting orders from foreign countries for goods and services that are made in a country and then shipped abroad Direct Exporting [BUS726] _______________predicts that countries will export those goods that make intensive use of locally abundant factors and will import goods that make intensive use of factors that are locally scarce. Heckscher-Ohlin model [BUS726] ______________involves a country soliciting another country to produce and sell her product to them in a fee and after due procedural arrangement have been made Foreign Licensing [BUS726] ________________is the exchange of capital, goods, and services across international borders or territories International trade [BUS726] ____________________argues that technology is now what divides the world Jeffry Sachs (2000)