Chapter 15

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The document discusses international trade and economic development. It covers key topics like a country's export partners and imports, trade balances, advantages in trade, outsourcing, tariffs and quotas, as well as challenges facing developing countries. Developed countries generally have higher GDP while less developed countries have lower GDP and face obstacles to growth such as rapid population growth and low savings rates.

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Chapter 15 International Trade and Economic Development

International Trade ,[object Object],[object Object],[object Object]

Trade Balance ,[object Object],[object Object]

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Outsourcing ,[object Object],[object Object],[object Object],[object Object]

Tariffs and Quotas ,[object Object],[object Object],[object Object]

Economic Development ,[object Object],[object Object]

Problems and Needs of the Developing World ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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Export & Import Business is one of the oldest types of business in the world existing from time immemorial . Since no country or region or tribe is self sustainable with all resources available to meet all the needs and requirements of its inhabitants and no nation can survive totally on its own without interaction and exchange of resources with other countries. There are always certain deficiencies as well as surpluses those need to relate and engage in exchange with one another, it can either be in terms of raw materials, semi-finished good or finished goods or capital goods and services. This important gap in requirements can be an opportunity to fulfill with abundant availability elsewhere, there by forming Trade between them. Exports and Imports are closely interwoven as a major economic activity for any country. Trading globally gives consumers and countries the opportunity to be exposed to goods and services not available in their own countries. Almost every kind of product can be found on the international market: food, clothes, spare parts, oil, jewelry, wine, stocks, currencies, and water. Services are also traded: tourism, banking, consulting and transportation.

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Chapter 15

1. Chapter 15 International Trade and Economic Development

3. Where our imports come from…

Chapter 15

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