Assessment 1: Short written response (20 marks) 1500 words Answer the following 3 questions (each approximately 500 words): 1. What is globalisation and how does it affect domestic businesses? In your discussion, include both positive and negative impacts of globalisation. (6 marks) Ans: Cavusgil et al. (2014) found that international business plays a vital role in our day-to-day activities and people do experiencing it as in their daily needs. Firms’ trade performance and investment activities across national borders help businesses to grow globally. Although international business has been rising around the world for centuries, it has picked-up the great speed and complexity over the last 30 years. It provides a quality of life by giving us an access of a wide range of goods and services. While internationalization of a particular firm expands its dimensions through business activities, globalization is linked with the countless multinational companies between countries. Please Note: 1. I’ve started question (this might be a bit helpful for the expert) but if require, you can feel free to change or edit my answer 2. Please use below text book for answer this question. Cavusgil, ST, Knight, G, Riesenberger, JR, Rammal, H & Rose, EL 2014, International Business:The new realities, 2nd edn, Pearson, Australia. ISBN: 9781486011049. 2. When you compare Absolute Advantage Theory and Comparative Advantage Theory, which one appears to be more practical, and why? Also, explain how benefit from trade arises based on this theory using a numerical example of 2 countries producing 2 products. (6 marks) Please Note: 1. Please go through Topic 2 Part A.pdf for answering this question. 2. For absolute advantage & Comparative advantage, please use the same table which is given in Topic 2 Part A.pdf on page 5 & 7 (Table 6.1) & (Table 6.2) but, make sure you multiple the given numbers by 2  3. Please use below text book for answer this question. Cavusgil, ST, Knight, G, Riesenberger, JR, Rammal, H & Rose, EL 2014, International Business:The new realities, 2nd edn, Pearson, Australia. ISBN: 9781486011049. 3. 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, (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) Please Note: For answering this question please use least 5 academic sources for referencing. 1. Please find the first 3 topics' contents.jpg for basic understanding 2. For drawback of regional integration, please use any academic journal article of Free Trade Area of the Americas (FTAA) 3. For impact of agreement, please use any academic journal article of The Trans-Pacific Partnership (TPP), or the Trans Pacific Partnership Agreement (TPPA) 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