Question

what is international trade ? what do you mean by balance of trade? what is the important of trade?​

Answer 1

International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product.......The difference in value between a country's imports and exports......The international market serves as animportant place for the exchange of goods and services. Economic theory shows that there are gains from trade for both countries involved. ... Technological advances have made international production and trade easier to coordinate

Answer 2

Explanation:

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The exchange of goods among people states and countries are referred to as a trade.Importance:i International trade of a country is an index to its economic prosperity.ii It is considered the economic barometer for a country.iii As the resources are space-bound no country can survive without international trade.iv Countries have trade relations with the major trading blocks.v Exchange of commodities and goods have been superseded by the exchange of information and knowledge.

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