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Introduction

Global Trading

   The exchange of goods or services between the nations. It allows for a greater competition and more competitive pricing in the market.

  A fundamental concept underlying global trade is the concept of comparative advantage developed by David Ricardo in the 19th century. In a nutshell, the doctrine of comparative advantage states that a country can produce some goods or services more cheaply than other countries. In technical terms, the country is able to produce a specific good or service at a lower opportunity cost than others.

Advantages of Global Trading

        A country can maximize its revenue by creating economic wealth on a global scale. By exporting goods and services the country can generate income. Global trade creates mutual relationship between nations it reduce international conflict and war.  A country can obtain goods which it cannot produce or which it is not producing due to higher costs, by importing from other countries at lower costs.  Global trade increases the efficiency and benefits to the consumers all over the world by producing quality goods at minimum cost.

 

 

 

Introduction

Global Trading

   The exchange of goods or services between the nations. It allows for a greater competition and more competitive pricing in the market.

  A fundamental concept underlying global trade is the concept of comparative advantage developed by David Ricardo in the 19th century. In a nutshell, the doctrine of comparative advantage states that a country can produce some goods or services more cheaply than other countries. In technical terms, the country is able to produce a specific good or service at a lower opportunity cost than others.

Advantages of Global Trading

        A country can maximize its revenue by creating economic wealth on a global scale. By exporting goods and services the country can generate income. Global trade creates mutual relationship between nations it reduce international conflict and war.  A country can obtain goods which it cannot produce or which it is not producing due to higher costs, by importing from other countries at lower costs.  Global trade increases the efficiency and benefits to the consumers all over the world by producing quality goods at minimum cost.

 

 

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