Question

List four elements of international trade

Answer 1

Answer: FOUR ELEMENTS OF INTERNATIONAL TRADE ARE :-

1. BALANCE OF TRADE

2. CURRENT ACCOUNT

3. BALANCE OF PAYMENT

4. FAIR TRADE

5. EXPORT- ORIENTED INDUSTRIALIZATION

Explanation:

Answer 2

Answer:

The four elements of International trade are:

1) Transaction costs- It includes cost that is involved behind trade in the exchange of economy.

2) Tariff and Non Tariff costs- The cost which is being levied on the product that has been traded.

3) Transport costs- The cost which is involved in shipping of the product to consumer from the point where it has been produced.

4) Time costs- The cost involved when there is a delay or occurence of lag in receiving the product by consumer.