International trade
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This document provides an introduction to international economics. It defines trade as the transfer of goods or services in exchange for money. A nation exports surplus goods and services after domestic demand is met, and imports goods and services it cannot meet domestically. International trade differs from internal trade in that it crosses country borders, uses foreign languages and currencies, faces more restrictions and competition, and involves immobile factors of production moving between countries. International trade is important as it provides outlets for surplus production, leads to more efficient allocation of resources worldwide, widens markets, encourages innovation, and has an educative effect.
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Difference between international trade and internal trade
International trade involves the exchange of goods and services between countries, with differences from internal trade within a country. Key differences include the mobility of factors of production being more restricted internationally, separate markets defined by language and other criteria across borders, and varied geographical and climate conditions affecting production. Other differences driving international trade are independent economic policies, currencies, and sovereign states between trading partners.
International Trade
International economics deals with the economic relations among nations. The resulting interdependence is very important to the economic well-being of most nations of the world and is on the increase. The economic relations among nations differ from the economic relations among the various part of a nation. This gives rise to different problems, requiring somewhat different tools of analysis, and justifies International Economics as a distinct and separate branch of “Applied” Economics.
International economics deals with
1) The Pure Theory of Trade. This examines the basis for trade and the gains from trade.
2) The Theory of Commercial Policy. This studies the reasons for and the results of obstructions to the free flow of trade.
3) The Balance of Payments. This examines a nation’s total payments to and total receipts from the rest of the world. These involve the exchange of one currency with others.
4) Adjustment in the Balance of Payments. This deals with the mechanism of adjustment to balance of payments disequilibria under different international monetary systems.
Lecture 1 introduction to international trade
International trade involves the exchange of goods and services between countries. It allows countries to gain access to products not available domestically and to specialize in producing goods where they have a comparative advantage. The main reasons for trade between countries include differences in technologies, resource endowments, consumer demands, economies of scale in production, and government policies. While international trade provides benefits like increased efficiency and economic growth, it can also lead to disadvantages such as resource depletion and impacts on domestic industries. A country's trade is recorded through its balance of payments, including exports, imports, and whether it has a trade surplus or deficit.
International trade
International trade involves the importing and exporting of goods and services between countries. There are several reasons for international trade, including allowing countries to obtain goods they cannot produce themselves and sell surplus goods. Trade can occur between two countries (bilateral) or multiple countries (multilateral). The main advantages of international trade are that it enables countries to access a greater variety of goods and promotes specialization. Some disadvantages include over-reliance on one export good and the potential for imported goods to have harmful effects. Key terms involved in international trade include imports, exports, balance of trade, balance of payments, and various shipping terms that determine responsibilities for costs.
International trade
This presentation discusses domestic and international trade. It is presented by Mohammad Mezbaul and Shahariar Ibna Azad. The document defines domestic trade as business transactions within a country's borders, while international trade is the exchange of goods and services between countries with imports and exports. The presentation then covers the benefits of international trade such as diversifying risk and facilitating growth, as well as the risks like foreign exchange rates and political instability. Protectionism and free trade are also mentioned.
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Manufacturing theories
International trade occurs when countries specialize in producing goods and services where they have a comparative advantage and trade with other countries. Comparative advantage is based on differences in factors like labor productivity and resource endowments between countries. According to the theory of comparative advantage, if each country specializes in what it can produce at a lower relative cost than trading partners, then all countries can benefit through increased consumption possibilities from trade.
International trade
Introduction Theories of International Trade Common Terms in International Trade Reasons For International Trade Advantages of International Trade Disadvantages of International Trade International Trade Protectionism Reasons for Trade Protectionism World Trade Organization Objectives of WTO Conclusions Discussions
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Difference between international trade and internal trade
International trade involves the exchange of goods and services between countries, with differences from internal trade within a country. Key differences include the mobility of factors of production being more restricted internationally, separate markets defined by language and other criteria across borders, and varied geographical and climate conditions affecting production. Other differences driving international trade are independent economic policies, currencies, and sovereign states between trading partners.
International Trade
International economics deals with the economic relations among nations. The resulting interdependence is very important to the economic well-being of most nations of the world and is on the increase. The economic relations among nations differ from the economic relations among the various part of a nation. This gives rise to different problems, requiring somewhat different tools of analysis, and justifies International Economics as a distinct and separate branch of “Applied” Economics.
International economics deals with
1) The Pure Theory of Trade. This examines the basis for trade and the gains from trade.
2) The Theory of Commercial Policy. This studies the reasons for and the results of obstructions to the free flow of trade.
3) The Balance of Payments. This examines a nation’s total payments to and total receipts from the rest of the world. These involve the exchange of one currency with others.
4) Adjustment in the Balance of Payments. This deals with the mechanism of adjustment to balance of payments disequilibria under different international monetary systems.
Lecture 1 introduction to international trade
International trade involves the exchange of goods and services between countries. It allows countries to gain access to products not available domestically and to specialize in producing goods where they have a comparative advantage. The main reasons for trade between countries include differences in technologies, resource endowments, consumer demands, economies of scale in production, and government policies. While international trade provides benefits like increased efficiency and economic growth, it can also lead to disadvantages such as resource depletion and impacts on domestic industries. A country's trade is recorded through its balance of payments, including exports, imports, and whether it has a trade surplus or deficit.
International trade
International trade involves the importing and exporting of goods and services between countries. There are several reasons for international trade, including allowing countries to obtain goods they cannot produce themselves and sell surplus goods. Trade can occur between two countries (bilateral) or multiple countries (multilateral). The main advantages of international trade are that it enables countries to access a greater variety of goods and promotes specialization. Some disadvantages include over-reliance on one export good and the potential for imported goods to have harmful effects. Key terms involved in international trade include imports, exports, balance of trade, balance of payments, and various shipping terms that determine responsibilities for costs.
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This presentation discusses domestic and international trade. It is presented by Mohammad Mezbaul and Shahariar Ibna Azad. The document defines domestic trade as business transactions within a country's borders, while international trade is the exchange of goods and services between countries with imports and exports. The presentation then covers the benefits of international trade such as diversifying risk and facilitating growth, as well as the risks like foreign exchange rates and political instability. Protectionism and free trade are also mentioned.
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This document discusses international trade and its role in development. It begins by defining trade and describing the key aspects of international trade including bilateral and multilateral trade. It then discusses commodities traded, distinguishing between raw materials exported by less economically developed countries and processed goods exported by more developed countries. Next, it covers trade relationships and concepts such as free trade, trade barriers, and fair trade. It concludes by discussing globalization and how increased integration impacts development, noting both advantages like increased trade but also disadvantages like greater influence of multinational corporations.
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International trade involves the exchange of goods and services between countries. It allows for greater competition and more pricing options in global markets. The main types of international trade are exports, which involve selling domestic goods and services abroad, and imports, which involve purchasing foreign goods and services. Both exports and imports provide economic benefits like increased production and consumption options, but they also involve risks and limitations like financial risks, regulatory hurdles, and exposure to global economic conditions.
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This document discusses international trade and its role in development. It begins by defining trade and describing the key aspects of international trade including bilateral and multilateral trade. It then discusses commodities traded, distinguishing between raw materials exported by less economically developed countries and processed goods exported by more developed countries. Next, it covers trade relationships and concepts such as free trade, trade barriers, and fair trade. It concludes by discussing globalization and how increased integration impacts development, noting both advantages like increased trade but also disadvantages like greater influence of multinational corporations.
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This document discusses international trade. It provides statistics showing that global trade grew 10.5% in 2017 to $34 trillion, with machines, fuels, automobiles and plastics making up the largest traded commodities. International trade brings both advantages and disadvantages. The advantages include increased revenues, longer product lifespans, better risk management, and benefiting from currency exchange. The disadvantages are impediments to local industries, domestic unemployment, economic dependence, political risks, proprietary information theft, misuse of natural resources, and danger to international peace. The conclusion states that international trade can help Vietnam specialize and exploit resources to maximize production and benefits.
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International trade occurs because no country can produce everything it needs. Countries import goods and services they are short of or can obtain more cheaply from other nations. To pay for imports, a country must export goods it has in surplus or can produce more affordably. There is an imbalance in trade between developed and developing countries, with developing nations typically exporting raw materials and importing manufactured goods. Some problems with world trade include an unequal distribution that benefits developed nations disproportionately and trade barriers that disadvantage non-members.
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This document provides an overview of key concepts in international business including:
1. The meaning and differences between domestic and international/foreign business.
2. Why companies go international and various market entry strategies such as exporting, wholly owned subsidiaries, licensing, franchising, joint ventures, and strategic alliances.
3. International trade theories including mercantilism, absolute cost advantage, comparative advantage, Heckscher-Ohlin theory, and Porter's national competitive advantage diamond.
4. Instruments of trade policy like tariffs, subsidies, import quotas, and anti-dumping policies.
Free trade versus Protectionism
Trade negotiations of the Transatlantic Trade and Investment Partnership (TTIP) and The Trans-Pacific Partnership (TTP) trade deals have provided more fuel to the fire of this ongoing debate.
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This document discusses various concepts related to international trade including:
- The need for trade as countries import and export goods they cannot produce domestically.
- Different historical economic systems like the barangay economy and manorial system.
- The development of a global economy and trade's role in development over time.
- Mercantilism as a policy focused on exports and limiting imports to accumulate wealth and power.
- Definitions of trade, international trade, absolute advantage, and comparative advantage theories.
- Philippine trade practices like relying on exports for foreign currency to import needed goods and services.
- Other sources of foreign currency besides exports and how imports exceed exports.
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This document provides an overview of theories of international trade and barriers to trade. It discusses traditional trade theories like mercantilism, absolute advantage, and comparative advantage. It also covers modern theories including factor proportions theory, product cycle theory, and strategic trade theory. The document then examines different types of tariff and non-tariff barriers to trade such as tariffs, quotas, technical barriers, and restrictions. Finally, it defines trade blocs and discusses how they can reduce barriers between member countries.
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BUSINESS IS DEFINED AS A SET OF ACTIVITIES RELATING TO INDUSTRY AND COMMERCE.
WHEN BUSINESS ACTIVITIES ARE CARRIED ACROSS THE POLITICAL BORDERS OF A COUNTRY, IT IS TERMED AS INTERNATIONAL BUSINESS.
A BUSINESS ENVIRONMENT INCLUDES VARIOUS EXTERNAL ACTORS AND FORCES THAT SURROUNDS A FIRM AND IMPACTS THE OUTCOME OF ITS DECISIONS AND OPERATIONS.
THE OBJECTIVE OF BOTH DOMESTIC BUSINESS AND INTERNATIONAL BUSINESS IS “MAKING PROFIT THROUGH CUSTOMERS SATISFACTION AND SOCIAL WELFARE”
TYPES OF BUSINESS ENVIRONMENT -
1. CONTROLLABLE ENVIRONMENT
a.) PRODUCTION
b.) FINANCE
c.) HUMAN RESOURCE
d.) MARKETING
2.UNCONTROLLABLE ENVIRONMENT -
a.) DOMESTIC ENVIRONMENT
b.) FOREIGN ENVIRONMENT
c.) GLOBAL ENVIRONMENT
ANOTHER MAJOR CLASSIFICATION -
1. MICRO ENVIRONMENT
2. MACRO ENVIRONMENT
RELEVANCE of international business environment
- Knowledge of international business environment is very important.
-Environment affects a firm’s strategic as well as tactical decisions so it becomes imperative for the firm to have in-depth knowledge of the various components of domestic, foreign and global environment.
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This document provides an overview of key concepts in international business, including:
1) Why nations trade to boost economic growth and take advantage of factors of production in other countries.
2) Measurements of international trade such as balance of trade and balance of payments.
3) Barriers to international trade like cultural differences, economic differences, and various types of trade restrictions.
4) Organizations that work to reduce trade barriers and promote global economic cooperation, including the WTO and IMF.
5) Strategies companies use when entering global markets and developing an international business strategy.
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1. The document discusses various topics related to international trade including comparative advantage, tariffs, quotas, export subsidies, trade blocs, and trade embargoes.
2. It provides examples and diagrams to illustrate how each of these trade policies and agreements impact production, consumption, prices, and welfare in countries.
3. The key effects discussed are how policies like tariffs and quotas can reduce global welfare while benefiting domestic producers, and how export subsidies typically reduce welfare for the subsidizing country.
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This document provides an overview of international business and trade. It defines international business as the buying and selling of goods and services across borders. It also defines trade and distinguishes between domestic and international trade. Some key differences between domestic and international business are differences in currencies, geographical conditions, legal systems, and political barriers imposed by sovereign states. The document then discusses several theories of international trade such as mercantilism, absolute cost advantage, and comparative cost advantage. It also outlines some common types of international business arrangements.
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- Types of international business activities like export-import trade, foreign direct investment, licensing, franchising, and management contracts.
International Business.pdf
This document provides an overview of international business. It defines international business as transactions that involve two or more countries, including international trade, foreign investment, and services that cross borders. The key dimensions of international business are the various parties that can be involved, such as governments, businesses, and consumers interacting on a global scale. The document also outlines some characteristics of international business, including operating in multiple markets and currencies, and factors that have driven its growth like increasing globalization and liberalization of trade policies. It discusses strategies for entering foreign markets and some challenges of doing international business compared to domestic markets.
Economic Trade
Trade policies are rules established by governments to regulate international trade. There are several types of trade policies including national policies set by individual countries, bilateral policies between two nations, and international policies set by economic organizations. Governments use various policy tools like tariffs, import quotas, and export promotions to influence trade balances and achieve economic goals. Nations can have open or closed economies depending on how freely they trade internationally.
International business environment
The document discusses key concepts in international business including definitions of international business and trade. It outlines differences between domestic and international business such as differences in currencies, natural conditions, and legal systems. The importance of international business is explained as helping with expansion, managing product life cycles, accessing new opportunities and technologies, and earning foreign exchange. International trade theories covered include mercantilism, absolute cost advantage, and comparative cost advantage. Trends in international business like regional trade agreements, developing country trade, and e-commerce are also summarized.
2.introduction to foreign trade
Foreign trade occurs between two or more countries through the exchange of goods and services. It takes place due to differences in countries' resources, factor endowments, technologies, labor skills, and national policies. International payments require a mechanism to connect different currency values, like foreign exchange, in order to facilitate transactions between nations. Banks play an important role in lending to both domestic and foreign trade through instruments such as bills of exchange, bank drafts, letters of credit, and telegraphic transfers.
International Business Environment
The document discusses various topics related to international business including:
- The key aspects of international business such as trade across borders and enterprises expanding activities globally.
- The differences between domestic and international business including currencies, geographical conditions, legal systems, and political barriers.
- The importance of international business for expansion, managing product lifecycles, accessing new opportunities and technologies, utilizing resources efficiently, and earning foreign exchange.
- Trends in international business like regional trade agreements, developing country trade, air cargo, global production networks, intra-firm trade, and e-commerce.
- Theories of international trade such as mercantilism, absolute cost advantage, and comparative cost advantage.
INTERNATIONAL ECONOMICS
This document provides an overview of different theories of international trade, including:
- Absolute advantage theory proposed by Adam Smith which states that countries should specialize in goods they have an absolute cost advantage in.
- Comparative advantage theory by Ricardo which expanded on this to show benefits of specialization based on comparative rather than absolute costs.
- Modern theories like Heckscher-Ohlin which propose that differences in factor endowments between countries (e.g. capital vs. labor) lead to trade in factor-intensive goods.
It also outlines key assumptions and limitations of each theory, and differences between internal and international trade.
Ch 1 introduction exm
1. International trade involves cross-border transactions of goods, services, and resources between nations for commercial purposes.
2. There are several reasons why companies enter international markets, including accessing new markets and resources, reducing costs, and gaining competitive advantages.
3. While international trade provides benefits like increased specialization and access to cheaper goods, it also faces challenges such as political risks, trade barriers, and cultural differences between countries.
Determinants of trading partner
India's top trading partners from April to June were China, the United Arab Emirates, and the US. India had the largest trade deficit with China in 2014 of $36.2 billion. Among its top ten trading partners, India maintained a trade surplus with the US, UAE, Hong Kong, and Singapore. A country's balance of payments accounts for all economic transactions between its residents and the rest of the world over a period of time, including exports and imports of goods and services as well as financial capital flows. It has two main components - the current account and the capital account.
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一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信bwp0011】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信bwp0011】即可
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3:国家专业人才认证中心颁发入库证书
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1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
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Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
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1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
【主营项目】
一.毕业证【q微741003700】成绩单、使馆认证、教育部认证、雅思托福成绩单、学生卡等！
二.真实使馆公证(即留学回国人员证明,不成功不收费)
三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
◇面对父母的压力，希望尽快拿到；
◇不清楚认证流程以及材料该如何准备；
◇回国时间很长，忘记办理；
◇回国马上就要找工作，办给用人单位看；
◇企事业单位必须要求办理的
◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
一比一原版(RMIT毕业证)皇家墨尔本理工大学毕业证如何办理
RMIT硕士学位证成绩单【微信95270640】《皇家墨尔本理工大学毕业证书》《QQ微信95270640》学位证书电子版：在线制作皇家墨尔本理工大学毕业证成绩单GPA修改（制作RMIT毕业证成绩单RMIT文凭证书样本）、皇家墨尔本理工大学毕业证书与成绩单样本图片、《RMIT学历证书学位证书》、皇家墨尔本理工大学毕业证案例毕业证书制作軟體、在线制作加拿大硕士学历证书真实可查.
【本科硕士】皇家墨尔本理工大学皇家墨尔本理工大学本科学位证成绩单（GPA修改）；学历认证（教育部认证）；大学Offer录取通知书留信认证使馆认证；雅思语言证书等高仿类证书。
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1客户提供办理皇家墨尔本理工大学皇家墨尔本理工大学本科学位证成绩单信息：姓名生日专业学位毕业时间等（如信息不确定可以咨询顾问：我们有专业老师帮你查询）；
2开始安排制作毕业证成绩单电子图；
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4毕业证成绩单电子版您确认信息无误之后安排制作成品；
5成品做好拍照或者视频给您确认；
6快递给客户（国内顺丰国外DHLUPS等快读邮寄）
真实网上可查的证明材料
1教育部学历学位认证留服官网真实存档可查永久存档。
2留学回国人员证明（使馆认证）使馆网站真实存档可查。
我们对海外大学及学院的毕业证成绩单所使用的材料尺寸大小防伪结构（包括：皇家墨尔本理工大学皇家墨尔本理工大学本科学位证成绩单隐形水印阴影底纹钢印LOGO烫金烫银LOGO烫金烫银复合重叠。文字图案浮雕激光镭射紫外荧光温感复印防伪）都有原版本文凭对照。质量得到了广大海外客户群体的认可同时和海外学校留学中介做到与时俱进及时掌握各大院校的（毕业证成绩单资格证结业证录取通知书在读证明等相关材料）的版本更新信息能够在第一时间掌握最新的海外学历文凭的样版尺寸大小纸张材质防伪技术等等并在第一时间收集到原版实物以求达到客户的需求。
本公司还可以按照客户原版印刷制作且能够达到客户理想的要求。有需要办理证件的客户请联系我们在线客服中心微信：95270640 或咨询在线父亲的家很狭小除了一张单人床和一张小方桌几乎没有多余的空间山娃一下子就联想起学校的男小便处山娃很想笑却怎么也笑不出来山娃很迷惑父亲的家除了一扇小铁门连窗户也没有墓穴一般阴森森有些骇人父亲的城也便成了山娃的城父亲的家也便成了山娃的家父亲让山娃呆在屋里做作业看电视最多只能在门口透透气不能跟陌生人搭腔更不能乱跑一怕迷路二怕拐子拐人山娃很惊惧去年村里的田鸡就因为跟父亲进城一不小心被人拐跑了至今不见踪影害不
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原版一模一样【微信：741003700 】【美国迈阿密大学牛津分校毕业证文凭证书】【微信：741003700 】学位证，留信认证（真实可查，永久存档）offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原海外各大学 Bachelor Diploma degree, Master Degree Diploma
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
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International trade
- 2. UNIT-I INTRODUCTION TO INTERNATIONAL ECONOMICS
- 3. LEARNING OUTCOMES • Concept of Trade • Types of trade: Internal and International trade. • Importance of International trade • Inter-Regional Vs International trade
- 4. CONCEPT OF TRADE • Trade involves transfer of goods or services to another in exchange of money. • All of us trade regularly. • Origin of trade was the Barter system • Modern trade is through medium of exchange i.e money
- 5. WHEN DOES A NATION EXPORT AND IMPORT? • Export means selling goods and services out of the country. • Only when domestic demand is satisfied and still surplus output is left.......a nation EXPORTS. • Imports means goods and services flowing into the country. • When a nation does not have enough resources or capacity to meet domestic demand.....the nation IMPORTS.
- 6. TYPES OF TRADE • Internal / Inter-regional / Domestic Trade • International / Foriegn Trade • Discuss the difference between internal and international trade.
- 7. INTERNAL V/S INTERNATIONAL TRADE Basis of Difference Internal Trade International Trade Geographical coverage Confined within the boundries of a country Carried across the boundaries of a country Language used Local or native language Foreign language Nationality of parties (buyer & seller) Belong to same country Belong to different countries Usual mode of transportation Roadways & railways Shipping & airlines Documents and formalities involved few More or many Currency for payment Local currency Foreign currency Government restrictions Few restrictions Restrictions such as tariffs, quotas etc Mobility of FOP Mobile within the country Immobile from one country to another Degree of Competition No competition Severe competition
- 8. ROLE & IMPORTANCE • Vent for Surplus • Efficient International allocation of resources • Optimization of Production • Widens the market • Innovation • Educative Effect
- 9. IMPORTANT QUESTIONS 1) Explain in detail the importance of International Economics 2) Discuss the scope of International Economics 3) Discuss the fundamental differences between inter-regional and international trade