QUESTION

HN1
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Team: Time:
Blanky 09/07/2021
Content
It is referred to as the
exchange of goods and
services between countries.
Most commonly traded items
are consumer goods, raw
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ibaotu.com malerials and food. In other

words, It is the exchange of
goods, capital and services
International Trade across the Internalional
borders to fulfil the supply of
required goods and services.
These form a signillicant part
of an economy's GDP.
Content According to David Ricardo

With free international trade, it is mutually beneficial for two countries to

each specialize in the production of the goods that it can produce relatively
most efficiently and then trade those goods. By dolng so, the two countries
can increase their combined production, which allows both countries to
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consume more of both goods. This argument remains valid even if a country
can produce both goods more efficiently than the other country.
International trade is not a zero-sum' game in which one country benefits at
the expense of another country. Rather, international trade could be an
'increasing-sum' game at which all players become winners.
Content

Internatinal Trade

 By promoting international trade,

the supply of inputs, raw materials
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and food items may increase as

the countries with surplus may
supply their produce to the
countries that fall deficient. This
helps in increasing intemalional
competition and also revenues of
the company.
Content

Internatinal Trade

If international trade is promoted, the two countries to the

transaction are benefjted. Each country specializes in some or
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the other production, if it is efficient enough, It can trade those

products in intermational ma Countries when the production
and supply increase. ts for more revenues. This wilIl increase
consumption In both the That is why, it can be said that
international trade is not a lose-win game or lose-lose game, it is
rather a win-win game as intemational trade by one country is
not an expense for the other. Rather It becomes beneficial for
both the countries as supplles increase.
Thanks For
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