7.1 Learning Outcomes: Explain what determines the level of economic development

7.1 Learning Outcomes:
Explain what determines the level of economic development of a nation.
Recognize current trends regarding foreign direct investment (FDI) in the world economy.
Explain the different theories of FDI.
Describe the different levels of regional economic integration.
Understand the economic and political arguments for regional economic integration.
Explain the history, current scope, and future prospects of the world’s most important regional economic agreements.

7.2 Action Required:
Go through the following link:
https://smallbusiness.chron.com/pros-cons-foreign-direct-investment-international-businesses-56164.html

7.3 Test your Knowledge (Question):

Describe the situations when licensing is not a good option for a firm.
What prompted the formation of the European Union? Discuss.

7.4 Instructions
Students are to answer the given question in Discussion Board.