Answer the following 3 questions (each approximately 500 words):
- What is globalisation and how does it affect domestic businesses? In your response, include a definition of globalisation, and discuss at least three positive and three negative impacts of globalisation. (6 marks)
- Explain Factor Proportions Theory and International Product Cycle Theory. Also discuss one limitation for each of these two theories using real examples. (6 marks)
- Donald Trump, president of United States of America, announced the imposition of tariff on Chinese imports in the recent past. Based on your understanding of the first 3 topics of this unit, (i) what could have been the reason/logic behind such a comment/decision, and (ii) what are the implications of such an intervention on domestic consumers? (8 marks)
You are expected to use at least 5 academic sources (excluding the textbook) to support your viewpoints.
Please place the word count for this assignment on the cover sheet. 10% more or less than 1500 words is acceptable. The marker may, at their discretion, discontinue marking if you go above 10% of the recommended word limit.
Marking Criteria:
| Question 1 | Question 2 | Question 3 | Total Marks (marking criteria-wise) | |
| Demonstration of theoretical understanding | 4 | 3 | 4 | 11 |
| Quality of arguments supporting the given answer | 1 | 2 | 3 | |
| Communication (spelling, grammar, sentence construction) | 1 | 1 | 1 | 3 |
| References (referencing format, quality of the source cited) | 1 | 1 | 1 | 3 |
| Total Marks (question-wise) | 6 | 6 | 8 | 20 |