Advantages Disadvantages of International Trade Research Paper Example

Advantages Disadvantages of International Trade Research Paper Example Advantages Disadvantages of International Trade Paper Advantages Disadvantages of International Trade Paper ADVANTAGES AND DISADVANTAGES OF INTERNATIONAL TRADE International trade allows countries to exchange good and services with the use of money as a medium of exchange. Several advantages can be identified with reference to international trade. However international trade does have its limitations as well. Discussed below are both advantages and disadvantages of international trade. Advantages Greater variety of goods available for consumption – international trade brings in different varieties of a particular product from different destinations. This gives consumers a wider array of choices which will not only improve their quality of life but as a whole it will help the country grow. Efficient allocation and better utilization of resources since countries tend to produce goods in which they have a comparative advantage. When countries produce through comparative advantage, wasteful duplication of resources is prevented. It helps save the environment from harmful gases being leaked into the atmosphere and also provides countries with a better marketing power. Promotes efficiency in production as countries will try to adopt better methods of production to keep costs down in order to remain competitive. Countries that can produce a product at the lowest possible cost will be able to gain a larger share in the market. Therefore an incentive to produce efficiently arises. This will help standards of the product to increase and consumers will have a good quality product to consume. More employment could be generated as the market for the countries’ goods widens through trade. International trade helps generate more employment through the establishment of newer industries to cater to the demands of various countries. This will help countries bring down their unemployment rates. Disadvantages It could lead to a more rapid depletion of exhaustible natural resources. As countries begin to up their production levels, natural resources tend to get depleted. This is not a favourable factor as it affects many living cycles. Therefore it is important that alternate energy resources are developed. A country could become heavily dependent on other countries – relying on a particular country for a product has its hazards. If that particular country undergoes a natural disaster, the country that is dependent will face severe difficulties. Domestic industries are exposed to foreign competition and dumping of cheap foreign products and this may cause unemployment if these industries are unable to compete with cheaper imports. When multinationals located themselves in developing countries, the incumbent firms face a tall order of having to compete with giants in the industry. Multinationals can produce at a lower average cost as they enjoy economies of scale, however the smaller incumbent firms do not possess this advantage. They may be forced to shut down leading to a loss of jobs. APIIT Sri Lanka, Business School, Business Economics, Subject Notes http://en. wikipedia. org/wiki/International_trade

6 Steps to Acing Your Second Interview

6 Steps to Acing Your Second Interview Congrats! You must have done something right in your first interview if they’ve called you back for a second round. This means you’re seriously in the running. Good news! But you’re not there yet. Their motives for calling you back could be as varied as wanting you to speak with other members of the team, wanting to get a better sense of one aspect of your experience, wanting to assuage concerns one part of the hiring team might have about your candidacy, or just to get a better sense of who you are as an employee.Here are 6  simple things to keep in mind if you want to ace your second interview.If it ain’t broke†¦Whatever prep you did last time, repeat it. Even if you think you remember the particulars. Give yourself a refresher course in the company, the committee, the position. Revisit the questions you prepped last time. Do you have answers that can expand on your first ones? Ask yourself what else you might be asked. Prepare, prepare, prepare. Don’t get caught out the second time for things you nailed the first!Come with  questionsYou already scoured your brain for good questions to ask and now you’ve got nothing. Keep digging! Now is a good time to show off your knowledge of the field and the position by asking more nuanced questions about the team, the work, the office culture.New interviewer, new homeworkIf you can get the names of any new people you’ll be meeting with, that’s your chance to bone up a bit on who they are and what they do. Not to mention what they might most be looking for, and how you can convince them you are it.Dress to impress (again)Hopefully you have more than one power outfit for interviews. If you don’t- you might need to invest in one. Or at least a different shirt and some accessories to shake up your go-to garb. Assume you struck a good note last time and aim for that sweet spot yet again.Stay freshChances are, you’ll be asked a lot of the same ques tions you’ve already answered. The worst thing you can do is complain. Instead of saying, â€Å"I already answered that!† Answer it again. With more passion, more panache. More polish. Be pleasant and answer thoroughly, as though for the first time.Be easygoingYou can’t control this conversation any more than you could control the first one. Go with the flow, relax, and your interviewers will appreciate your good attitude.Remember, a second interview is no guarantee that you’ll be hired. But you are one step closer and therefore should be one-step better prepared!