DEFINITION OF INTERNATIONAL TRADE

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DEFINITION OF INTERNATIONAL TRADE

International trade also known as foreign trade or external trade involves the exchange of goods and services between two or more countries. The principle underlying the buying and selling between one country and another is specialization. The theory of international trade, therefore, is based on the principle

·  loans for businesses

·  how to establish enterprises

·  what is a firm

·  price equilibrium

·  scale of preference

·  concept of economics

·  economic tools for nation building

·  budgeting

·  factors affecting the expansion of industries

·  mineral resources and the mining industries

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