Question

Give a detailed account of the basis of international trade

Answer 1

The exchange of capital, goods and services over international borders is known as International Trade. In many countries, such trade means sharing a significant amount of gross domestic product (GDP).

Throughout history there have been many references of international trade for example Uttarapatha, Silk Road, Amber Road, Atlantic slave trade and salt route.

But, the economic, social, and political importance of international trade has been on a significant rise in recent times.