After reading Chapters 2 and 3 in the text, reflect and discuss the following questions:
- Explain the underlying rationale for global trade and explain the difference between comparative and absolute advantage?
- What are the essential factors for economic growth and increased development of global trade flows? Why are they so important in today’s global economy?
- Provide a definition of logistics and a rationale for why is it important in private companies and public organizations?
- Explain the importance of logistics on a macro level and the contributions of logistics to the economy?
Use the following headings to organize your paper: Introduction, Question 1, Question 2, Question 3, Question 4, Conclusion, References.