Choose a product to attempt an application of international trade theory. I will ask, as far as possible, for people to choose different products.
- indicate where production takes place in the world, - consider how far this relates to permanent factor endowments,
- indicate changes that may have taken place in location of production and try to explain;
why production has moved,
why production did not move sooner,
where it might move in the future.
- consider the applicability of the concept of the product cycle.
this is a very specific idea in economics (i've an economics degree, its about trade theory)... in either ricardo, or hecksher ohlin, i cant remember, one country has capital and one has labour abundance, which would be the permenant factor endowment. trade is then based on that abundance, specialising in goods that use that factor intensively. this is H-O i think..