International Trade
choose ONE of the following. Your response should be 600 words long.
1) Compare and contrast Absolute and Comparative Advantage – and discuss how each relates to gains from trade.
2) Explain how trade barriers save jobs in protected industries, but only by costing jobs in other industries.
3) What might account for the dramatic increase in international trade over the past 50 years?
Sample Solution
In this study’s context, psychological safety describes the perception that an individual has regarding the consequences of interpersonal risks in their working environment. In other words, it consists of beliefs on how other people will react when an individual exposes himself by asking questions, reporting an error, asking for feedback or making a proposal of a new idea (Edmondson, 2004). At individual level, psychological safety is associated with knowledge sharing, employee engagement, and employee voice (Edmonson & Lei, Psychological Safety: The History, Renaissance, and Future of an Interpersonal Construct, 2014). At group level, Edmonson (2004; 1999) argues that by facilitating error reporting, help seeking, and feedback seeking, psychological safety mediates team learning behaviours. Transformational leadership Transformational leadership is centred on the leader increasing followers’ levels of motivation and performance (Bass B. M., 1985). It was suggested by Shamir et al. (1993) that charismatic–transformational leaders transform the self-concepts of their followers. These leaders bridge the social and personal identification of the followers with the goals of the organisation, this way enhancing followers’ feelings of involvement, cohesiveness, commitment, potency, and performance (Shamir, House, & Arthur, 1993). Transactional leadership Before the conceptualisation of the transformational leadership, transactional contingent reinforcement was considered the main component of effective leadership. This approach is characterised by a clear set of expectations whose achievement offers recognition. In this situation, followers agree with or accept the leader either in exchange of a praise or in order to avoid disciplinary action that could be taken against them (Bass B. M., 1985). When in its more corrective form, this approach is labelled as active management by exception; in this scenario, the leader is specifying not only what is consid>
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