international trade definition


What are some examples of items that are commonly traded in international trade?

    international trade, economic transactions that are made between countries. Among the items commonly traded are consumer goods, such as television sets and clothing; capital goods, such as machinery; and raw materials and food. Other transactions involve services, such as travel services and payments for foreign patents ( see service industry ).

What are the different types of international trade?

    The practice of international trade is an organized process and works according to governmental policies and various international trade agreements. International trade involves 3 different kinds of trade import, export, and entrepot. Understand these terms with examples of international trade using labels country A, country B, and country C.

What is international trade?

    international trade, economic transactions that are made between countries. Among the items commonly traded are consumer goods, such as television sets and clothing; capital goods, such as machinery; and raw materials and food. Other transactions involve services, such as travel services and payments for foreign patents ( see service industry ).

What are the benefits of international trade?

    International trade allows countries to expand their markets and access goods and services that otherwise may not have been available domestically. As a result of international trade, the market is more competitive. This ultimately results in more competitive pricing and brings a cheaper product home to the consumer.
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