1.

Explain briefly international (foreign) trade.

Answer»

International trade:

  • Trade carried out for exchanging the goods or services between two countries is called international trade. Thus, international trade crosses boundaries of the country.
  • For example, a Japanese company selling its televisions to India. An Indian trader selling its Kesar mango to an African trader.
  • International trade consists of
    (a) Import trade,
    (b) Export trade and
    (c) Re-export trade.


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