Question

Give an overview of international trade theory. discuss advantage of international trade theory.

Answer 1

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.
there are 7 International trade theories :
1.mercantalism
2.absolute advantage
3.comparative advantage
4.heckscher-ohlin theory
5. the product life cycle theory
6. new trade theory
7.porter's diamond