International Trade

International Trade - CANADA AND INTERNATIONAL TRADE A...

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CANADA AND INTERNATIONAL TRADE A HISTORICAL PERSPECTIVE ON TRADE From the 16th to the 18th Century, Canada's leading exports was fish and fur. During the 19th century, there was the exploitation of forests and timber as they became the staple export. In the 20 th Century, agriculture, forestry, mining and manufacturing was developed. International trade: 1. The exchange of goods and services between or among countries 2. Enables a country to specialize in those goods it can produce most cheaply and efficiently 3. Enlarges the potential market for goods of an economy 4. Major force of economic relations among countries 5. Is an extension of governmental policy Reason for trade 1. Resources are not completely distributed across the globe. 2. The climate and terrain of a state. 3. The skills of its labour force. 4. The advantages of specialization The Importance of International Trade 1. Some countries export only to expand their domestic market or to aid economically depressed sectors within the domestic economy.
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This note was uploaded on 01/23/2012 for the course ADMS 1010 taught by Professor Jurkowski during the Fall '09 term at York University.

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International Trade - CANADA AND INTERNATIONAL TRADE A...

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