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Part A: Economic Systems
Prepare a 2–3-page report containing the following:
1. Characterize the economies of the two target countries that you selected in Assignment 2. Are they centrally planned, mixed, or free market economies? Explain your decision.
2. Using World Bank and or IMF data, make a 3 × 4 table to compare your two countries with Canada for four factors of economic development: GDP (per capita), GNP, PPP, and HDI. Make sure to cite your sources.
3. Based on the information you have gathered, which of your two countries looks like a better place to do business? Why?
Part B: Trade Barriers and Treaties
Prepare a 3–4-page report containing the following:
1. What was the mercantile system and why did it fail?
2. Compare absolute advantage with comparative advantage. How does the size of a country and the diversity of its economy impact on these theories?
3. How does one determine the suitability of a country for trade using Michael Porter’s Diamond?
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