1. Define international business environment. How does the home country environment influence foreign business operations of a firm? Explain.  

2. (a) There is a view that the future of world trade is going to be one of trade among trade blocks rather than trade among nations.” Give reasons for your answer.

(b) Discuss India’s strategy to deal with Regional Economic Groupings.

3. Comment on the following:  

(a) The TRIPS agreement is directed to discourage research and innovation.

(b) Per Capita income is not a fool proof measure of country’s development and prosperity.

(c) Advertising laws are not very strict in West Germany.

(d)   Free trade is always better than no trade.

4. Distinguish between:

a) GATT and WTO

b) Void and illegal agreement

c) Void agreements and void contract

d) Current Account and Capital Account of Balance of Payments

5. Write short notes on:      

(a) Globalization

(b) Michael Porter’s view of Globalization