Effects of Economic and Socioeconomic Forces:
Choose one newly industrializing countries mentioned in the text (p. 102 International Business)
Choose a product you think would be suitable to export to the country you chose based solely on that country’s location, climate, topography, and natural resources.
Answer the following questions: What effect might the economic and socioeconomic forces within that country have on the product’s potential? Explain the rationale behind your decisions.
After you've chosen a country, you can get much of the information you need in this all-inclusive source.
www.cia.gov/library/publications/the-world-factbook/index.html
thank you.
To answer this question, you will need to do the following steps:
1. Choose one newly industrializing country mentioned in the International Business textbook (page 102).
2. Analyze the country's location, climate, topography, and natural resources.
3. Select a suitable product for export to the chosen country based on the above factors.
4. Consider the economic and socioeconomic forces within that country and their potential effect on the chosen product.
5. Explain your rationale behind the decisions you make.
Let's go through these steps one by one:
1. Choose a newly industrializing country mentioned in the textbook:
- Look at page 102 of the International Business textbook and identify a country mentioned there.
2. Analyze the country's location, climate, topography, and natural resources:
- Gather information about the chosen country's geographic location, climate, topography, and natural resources.
- Consider factors like proximity to markets, access to transportation routes, climate suitability for certain industries, availability of raw materials, etc.
3. Select a suitable product for export based on the above factors:
- Take into account the information you gathered in step 2.
- Identify a product that aligns well with the country's geographic advantages, climate conditions, availability of natural resources, and potential demand.
4. Consider the economic and socioeconomic forces within the country:
- Research and analyze the economic and socioeconomic factors specific to the chosen country.
- Look into aspects such as GDP growth rate, income levels, consumption patterns, market demand, government policies, trade regulations, etc.
5. Explain the rationale behind your decisions:
- Once you have identified a product and analyzed the economic and socioeconomic forces of the chosen country, consider how these factors may impact the product's potential.
- Provide a logical explanation for how the economic and socioeconomic forces within the country may positively or negatively influence the product's success, market demand, profitability, and overall potential.
By following these steps, you will be able to determine the potential effects of economic and socioeconomic forces on a chosen product in a newly industrializing country based on its location, climate, topography, and natural resources.