The document discusses international trade and globalization. It defines trade as the buying and selling of goods and services between parties where compensation is paid. Globalization is described as international specialization where countries specialize in goods and services they can produce at a lower opportunity cost due to superior resources or production methods. Examples of comparative and absolute advantage as economic concepts relating to a country's ability to produce certain goods more efficiently are also provided.

1. MUDASSIR RAZA
INTERNATIONAL TRADE
AND
GLOBALIZATION

2. - Wants and Resources
- What is Trade?
- Concept of Globalization
- International Specialization
DISCUSSION POINTS:

4. WHAT IS TRADE?

5. Trade is a basic economic concept involving the buying and selling of
goods and services, with compensation paid by a buyer to a seller, or
the exchange of goods or services between parties.
WHAT IS TRADE?

6. WHAT IS GLOBALIZATION?

7. GLOBALIZATION

8. INTERNATIONAL
SPECIALIZATION
SPECIALIZATION AT A NATIONAL LEVEL
SUPERIOR RESOURCES ALLOCATION
CHEAPER PRODUCTION METHOD

9. ?
EXAMPLES OF
INTERNATIONAL
SPECIALIZATION.

10. COMPARATIVE
ADVANTAGEIt is an economic term
that refers to an
economy's ability to
produce goods and
services at a lower
opportunity cost than
that of trade partners.

11. ABSOLUTE
ADVANTAGEIn economics, the
principle of absolute
advantage refers to the
ability of a party to
produce a greater
quantity of a good,
product, or service
than competitors

12. Questions ?