1. It is possible for an economy to experience growth as measured by total GNP without a commensurate rise of the standard of living.

Discuss fully. As GNP is the total value of all final goods and services produced within a nation in a particular year, plus income earned by its citizens (including income of those located abroad), minus income of non-residents located in that country. Basically, GNP measures the value of goods and services that the country's citizens produced regardless of their location. GNP is one measure of the economic condition of a country, under the assumption that a higher GNP leads to a higher quality of living, all other things being equal. Hence, if a countrys GNP increases its standard of living increases likewise.

2. Discuss how the economic growth of BEMs is analogous to the situation after World War II when tremendous demand was created during the reconstruction of Europe. The growth of BEMs ( big emerging markets) is analogous to the situation after world war II as these countries lack infrastructure and much of the expected growth is from industrial sectors such as information technology, environmental technology, transportation, energy technology, healthcare technology and financial services. This situation is similar to world war II as it created huge demand for capital goods during the reconstruction of Europe. However, the BEMs are already boomingunlike the situation after world war II.

3. Discuss the problems a marketer might encounter when considering the socialist countries as a market. 4. Explain the political role of multinational market groups. 5. Visit the Web pages for NAFTA http://www.trade.gov/mac/index.asp http://www.fas.usda.gov/itp/Policy/nafta/nafta.asp and Mercosur http://mercosur.com or www.mercosur.org/english/) and locate each groups rules of origin. Which group has the most liberal rules of origin? Why the difference? 6. For each regional trade groupEC and ASEAN+3cite which of the factors (Political, Economic, Social, Geographic) for success are the strongest and which are the weakest. Discuss each factor.

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