Question

Explain the theories of international trade and their applicability in the indian context.

Answer 1

Answer:

Explanation:

International trade theories are simply different theories to explain international trade. Trade is the concept of exchanging goods and services between two people or entities. International trade is then the concept of this exchange between people or entities in two different countries.

People or entities trade because they believe that they benefit from the exchange. They may need or want the goods or services. While at the surface, this many sound very simple, there is a great deal of theory, policy, and business strategy that constitutes international trade.

In this section, you’ll learn about the different trade theories that have evolved over the past century and which are most relevant today. Additionally, you’ll explore the factors that impact international trade and how businesses and governments use these factors to their respective benefits to promote their interests.

Answer 2

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The fundamental trade is to explain why the ... Indian goods to U.S.A in this case India is the home country or importer. ... In their theory of international trade the classical economists.