Write a note on history of international trade.
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International trade has a rich history starting with barter system being replaced by Mercantilism in the 16th and 17th Centuries. The 18th Century saw the shift towards liberalism. ... All these economic thoughts and principles have influenced the international trade policies of each country.
There are three types of international trade: Export Trade, Import Trade and Entrepot Trade.
International trade between different countries is an important factor in raising living standards, providing employment and enabling consumers to enjoy a greater variety of goods.
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