International Relationship

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66 International Relationship Questions And Answers

2⟩ Can you explain Does Europe the USA or China have the largest economy?

1- Europe (remember Italy, French, UK and Germany are 4 world's power) 2- USA 3- China.

2006 GDP Figures from the CIA World Fact book, in Trillions of dollars, purchasing power parity:

European Union: 13.080

United State: 13.060

China: 10.210

Prior to 2005, and probably back to 1942, the United State surpassed the EU.


3⟩ Explain What are the advantages of leaving the allocation of a country resources to the price mechanism?

The main conditions required are:

1. Either a finite number of agents or goods.

2. No externalities - That is, the consumption of one person should not harm or benefit anyone else.

3. No matter how much a person is consuming, they must be able to be made slightly happier by consuming a bit more of something.


4⟩ What is theory of mercantilism?

Mercantilism was the economic philosophy underlying English colonial policy. The object of mercantilism was to increase the wealth of the Mother County (Great Britain) in gold and silver. To accomplish that goal, a favorable balance of trade was desired. That means that a nation would sell more than it would purchase, thus creating a surplus in the treasury. The name of the philosophy points out the importance is of merchants in this policy. Merchants would sell products to foreign nations and purchased items to be sold within the nation. Colonies played a vital role in mercantilism. A colony would supply the necessary raw materials to the industries of England and the colonists would be a source of income to the nation because they would buy the finished products and supplies they needed to grow, from the Mother Country. The ideal was to become self-sufficient. The nation would produce everything its people needed and buy nothing from foreign nations. Since the ideal could not be accomplished in the real world of economics, the object of mercantilism was to minimize imports that cost money and maximize exports and the trade that brought money in to the nation.


6⟩ what is international relationship?

International relations (IR) is the study of relationships between countries, including the roles of states, inter-governmental organizations (IGOs), international nongovernmental organizations (INGOs), non-governmental organizations (NGOs) and multinational corporations (MNCs). It is both an academic and public policy field, and can be either positive or normative as it both seeks to analyze as well as formulate the foreign policy of particular states. It is often considered a branch of political science.


9⟩ Define Monopolistic competition market structures required for automotive industry?

Monopolistic industries consist of both competition and monopoly. They have many firms that provide substitute products. There products are differentiated on the basis of physical attributes, images, advertisements and services. For example, Domino's and Pizza Hut both offer pizza but they are differentiated on the basis of ingredients, recipes and taste. Customers choose the best one on the basis of their service and quality of the product.


13⟩ List the role of the UN in peacekeeping in the world?

★ There is a clear political goal and whether it can be reflected in the mandate.

★ There is a precise mandate for a UN operation to be formulated.

★ Whether the safety and security of the UN personnel can be reasonably ensured, including, in particular, whether reasonable guarantees can be obtained from the main parties regarding the safety and security of UN personnel.


14⟩ Do you know what are the impacts of globalization on the world?

Globalization will help in filling the gaps and will focus more on future solutions to likely problems. It will broaden the mentality of people and they will be able to fight every situation with more confidence. Globalization aims at bringing a bigger change. Though accepting these changes are difficult, these will bring positivity in the environment.

Globalization will help business evolve in new ways with higher level of thinking and strategies. People will focus more on solutions than concentrating on problems.

Due to the power of communication, international trade and global financial markets would generate wealth which will be helpful to fulfill all social needs, such as preservation of peace, alleviation of poverty, environment protection, improvement in labor conditions and corporate culture and human rights.


15⟩ Define Monopoly market structures required for automotive industry?

In the monopoly industry they have a single seller of a product and that particular product has no close substitutes. There is no competition in such market structure as there is only one seller. There is no control on prices as it depends on the demand of the product. Examples are local telephone service and water supply.


16⟩ Define perfect competition market structures required for automotive industry?

Perfect competition industry is one that consists of many small buyers and sellers. These type of industries produce similar types of products, and consumers have complete knowledge about the products and their prices. There is huge competition among all the sellers. Some examples are the industries which produce agricultural products, such as livestock, corn and wheat.


18⟩ Define the term sovereignty mean in International law?

A sovereign state must have a permanent population, defined territory, one government, and the capacity to enter into relations with other sovereign states. It is also a factor to be considered that a state is not dependent on any other power or state.

According to the declarative theory of state recognition, a sovereign state can exist without being recognized by other sovereign states, the unrecognized state will have difficulty to exercise full treaty-making powers and also engage in diplomatic relations with other sovereign states.


20⟩ On what basis of the principles theory of Mercantilism fits into international relations?

★ Mercantilists thought that the amount of wealth in the world would remain unchanged.

★ They believed that a country's wealth just includes the amount of precious metal or billions it has.

★ Encouraging exports over imports so as to get a favorable balance in foreign trade.

★ A large population of a country would be the key to autonomy and state power.

★ They had a belief that the state should play a dominant role in assisting and directing the national and international economies to these ends.