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PASSAGE – II
(Question Nos. 191 to 195)
International trade represents a significant share of Gross Domestic Product (GDP). While international trade has been present throughout much of history, its economic, social and political importance has been on the rise in recent centuries.
Industrialization, advances in tecnology, transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system. Increasing international trade is crucial to the continuance of globalization. International trade is, in principle, not different from domestic as the motivation and the behaviour of parties is across a border or not. The main difference is that international trade. Another difference between domestic and international trade is that factors of production such as capital and labour are typically more mobile within a country than across countries.
(Question Nos. 191 to 195)
International trade represents a significant share of Gross Domestic Product (GDP). While international trade has been present throughout much of history, its economic, social and political importance has been on the rise in recent centuries.
Industrialization, advances in tecnology, transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system. Increasing international trade is crucial to the continuance of globalization. International trade is, in principle, not different from domestic as the motivation and the behaviour of parties is across a border or not. The main difference is that international trade. Another difference between domestic and international trade is that factors of production such as capital and labour are typically more mobile within a country than across countries.
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