What Is International Trade?
International Trade is when you walk into a Retail Jewellery Showroom and a able to buy Burmese Ruby or Haiti Pearls or Jammu Ruby. Thus sitting in England, you can buy Indian or Japanese or Australian goods.
International Trade can be explained as the exchange of Goods and Services between various Economies. This type of Trade gives way to a World Economy where Price and Demand are affected by International Events. Political and Social happenings in a country can lead to increase in Cost of Production for a Particular Industry.