International trade is transaction of goods and services between different countries for common benfits for the countries,it is taken as a major part of macro economices where various kinds of good and services are exported and imported between the countries in the world.International trade operates due to the cost difference,specialization and division of labour,since international trade is affected by various factors like natural or geographical factors,stage of economic development,accumulation of capital by a nation and its foreign investment,technological progress,trade financial regulation,political condition and etc definitely the cost of production will be definitely different as a result international trade exists among the countries for the common benefit ,therefore in international trade,nations or people specialize in producing goods in which they have a greater comparative advantage.
International trade has two aspects bilateral international trade and multilateral international trade.If only two countries are participated to transact commodities to each other ,then it is callled bilateral international trade.If more then two countries are involved to export and import of goods and services,it is know as multilateral international trade.
International trade has two aspects bilateral international trade and multilateral international trade.If only two countries are participated to transact commodities to each other ,then it is callled bilateral international trade.If more then two countries are involved to export and import of goods and services,it is know as multilateral international trade.
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