ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
National trade
|
|
|
International trade
|
|
|
Both of these
|
|
|
None of the above
|
Detailed explanation-1: -International trade is the exchange of goods and services between countries. This type of trade gives rise to a world economy, in which prices or supply, and demand are affected by global events.
Detailed explanation-2: -International trade is referred to as the exchange or trade of goods and services between different nations. This kind of trade contributes and increases the world economy. The most commonly traded commodities are television sets, clothes, machinery, capital goods, food, raw material, etc.
Detailed explanation-3: -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.
Detailed explanation-4: -Trade between two or more countries is called foreign trade or international trade.