ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Voluntary trade occurs when different countries choose to engage in the exchange of goods with one another. Countries trade goods because no country has all the resources necessary to produce every single thing its people need.

Detailed explanation-2: -International Trade: Commerce among Nations.

Detailed explanation-3: -International trade is the exchange of goods and services between countries.

Detailed explanation-4: -Voluntary exchange is a type of transaction where two parties freely trade goods or services. This occurs in a market economy, which is a type of economy where both participants of an interaction gain a mutual benefit from it and are better off than when they started.

Detailed explanation-5: -Trade refers to the voluntary exchange of goods or services between economic actors. Since transactions are consensual, trade is generally considered to benefit both parties.