Business Finance Homework Help

I’m studying for my Supply Chain class and don’t understand how to answer this. Can you help me study?

• During the last 20 to 30 years, there have been a number of countries whose economies have experienced important economic expansion and development. One group of countries has been labeled the BRIC and the other the VISTA. Identify each of the nine countries and provide some insights about their economies and economic importance.
• The theories of absolute and comparative advantage have been offered as economic rationale for trade between and among regions and countries. Compare and contrast the two concepts. Which of the two do you think is more important for explaining the growth in global trade during the last 25 years? Why?
• The overall growth of global trade has more than doubled since 2000. Why? What has been the most important factor prompting this growth. Is this rate of growth likely to continue in the future? Why or why not?
• Technology can impact economic development on both a macro and a micro level. What types of technology do we need to have such impacts on a macro basis? On a micro basis?
• Robotics have attracted more attention in recent years. Why? How are robots being used in supply chains?
• Compare and contrast time and place utility, and explain how they contribute to the value of products. What is the importance of time and place utility in our global economy?