In this week\'s readings, we have discussed the importance of international trad

Question

In this week's readings, we have discussed the importance of international trade. In a 4-6 page paper, please review the importance of international trade to the United States and its economic climate. Please give examples of your position concerning this important economic topic that many nations grapple with. What is the relationship between imports and exports, and how does this affect the economy of a nation?

After completion of your research, please cite the research, as well as a reference page at the end of the assignment. The paper should be no shorter than 4 pages and no longer than six full pages of material. This does not include the cover page and reference gage. Remember this paper must be in APA style.

Explanation / Answer

We know that trade means that the exchangeof goods and services. The trade between nations is called international trade. Here we discuss about why the nations trade?. The important reason is that no nation has the capacity to produce by itself all the commodities and services that are required by its people. Then there is cost diffrentials in another reason for trade. The importance of international trade is given below:

1. International division of labour.

2. optimum of world resources

3. Substitution of prices

4. Technological prograss

5. Easy flow of capital between the nation

6. Promotion of competition

7. Greater bilateral coperation

8. Export led growth

We know that united states is one of largest economy in the world. `In US trade played vital role in the development of economy. That means 38 million of US people are depends upon trade. Also US is the world largest exporter of goods and services. The US is the largest exporter of meterial goods. Also they are largest importer in the world. They are maily import goods, Industrial mechinery and goods, capital goods, consumer goods, Food, feeds and beverages.

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.