TUTORIAL QUESTION 1. What is international business? List and briefly explain TWO (2) reasons why some business involves in international trade. 2. In.

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TUTORIAL QUESTION 1. What is international business? List and briefly explain TWO (2) reasons why some business involves in international trade. 2. In international trade, what is the difference between an absolute advantage and a comparative advantage? 3. What is outsourcing? List FOUR (4) reasons of outsourcing. 4. Differentiate between exporting and importing.

TUTORIAL QUESTION 5. Differentiate between balance of trade and balance of payments. 6. List SIX (6) barriers to international trade. 7. List and briefly explain THREE (3) basic economic factors that managers must consider when doing international business. 8. List SIX (6) barriers that a company must contend with to enter the international marketplace.

TUTORIAL QUESTION 9. What is import tariff? Briefly explain TWO (2) of import tariff. 10. Briefly explain FOUR (4) types of legal barrier to trade. 11. List and briefly explain FOUR (4) organizations and agreements that foster international business. 12. Briefly explain FIVE (5) ways how business may get involved in international trade.