Please define each of the selected four concepts and provide a relevant empirical illustration of the concept. Students receive a maximum of two points for definition and two points for illustration; with an additional one point for quality and readability.
Choose four (4) from the list below.
- Balance of Power
- Comparative Advantage
- Economic Interdependence
- Foreign Direct Investment (FDI)
- International Financial Institutions (IFIs)
- World Trade Organization
- Terms of Trade
- Core-Periphery Relations
- Washington Consensus