INTERNATIONAL TRADE: The economic interaction among different nations involving the exchange of goods and services, that is, exports and imports. The guiding principle of international trade is comparative advantage, which indicates that every country, no matter their level of development, can find something that it can produce cheaper than another country. International finance, the study of payments between nations, is a related area of international economics. A summary of international trade undertaken by a particular nation is given with the balance of trade.

     See also | international economics | international finance | balance of trade | comparative advantage | foreign trade | export | import |

INTERNATIONAL TRADE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: July 26, 2024].

Additional information on this term can be found at:

WEB*pedia: international trade

Back to the GLOSS*arama

The decision NOT to become informed about a topic (such as what a political candidate wants to do) because the cost of acquiring the information is more than the expected benefit. The rational decision to remain ignorant about a subject is a straightforward application of utility maximization and along with the related notion of rational abstention, is a source of voter apathy and government inefficiency.

Complete Entry | Visit the WEB*pedia

Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a rotisserie oven that can also toast bread or a flower arrangement in a coffee cup for your father. Be on the lookout for poorly written technical manuals.
Your Complete Scope

This isn't me! What am I?

-- Cato, Roman orator

User Feedback