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lecture 28 & 29 - country International trade...

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Lecture 28 & 29 Trade Trade is an economic activity in the tertiary sectors, by which Homo sapiens are involved in the exchange of goods and services between two or between more than two parties involving monetary or non-monetary transactions. Trading can occur in two ways- Informal trade Formal trade Informal trade Informal trade is also known as Barter trade. People at first started trade with this. In this trade two parties are involved in non-monetary transaction. Formal trade Formal trade means exchanging of goods and services between two or more than two parties involving monetary transactions. Formal trade occur in two ways Internal trade International trade Internal trade Internal trade means involved in monetary transactions in the local currency and the trade is conducted within geographical boundaries of a given
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Unformatted text preview: country. International trade International trade indicates exchange of goods and services involving monetary transactions in the hard currency and the trade entails crossing the international border. There are two components of international trade Export Import Export Sending of demanded commodities to parties that are located in foreign countries. Import Receiving of a given demanded commodities from the parties that are located in foreign countries. Balance of trade Balance of trade is the subtraction of import trade from export trade. It could be either positive or negative. A country earn when the balance of trade is positive and the net return is also positive. The country losses when the balance of trade is negative....
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