Question

describe how a business may use the trade theories to develop its business strategies .use Porter's four determinants in explanation.​

Answer 1

International trade theories are simply different theories to explain international trade. Trade is the concept of exchanging goods and services between two people or entities. International trade is then the concept of this exchange between people or entities in two different countries.

Answer 2

A business can use trading strategies to improve its business strategies using Porter's four decisions to explain is:

• Porter's theory stated that national competition in the industry depends on the industry's ability to innovate and develop.
• A broad view of this theory offers the theory of gripping the element as well as many other international trade ideas in it.
• Porter represents these four ways as a diamond.
• The four determining factors can be considered as a playground in the industries of a particular nation.

The four choices are:

• Feature conditions.
• Conditions of need.
• Supporting related industries.
• Strong strategy, structure, and competition.