International Trade International trade is the exchange of goods and services between countries. All the countries of the world are engaged in International trade. Trade is a powerful engine for economic progress. This type of trade gives rise to a world economy, in which prices, or supply and demand is affected by global events.
E.g. Malaysia: an increase in the cost of labour would increase the manufacturing costs for an American company based in Malaysia, which would then result in an increase in the price that you have to pay to buy the tennis shoes at your local shop in Mauritius.
Register in the forum to download the complete notes.
http://education.mu/forum/index.php?action=register
education.mu
Author
