Note: The following question is for the Visually Impaired Candidates only, in lieu of Q. No. 9 :
Explain three important aspects of international trade.
Three important aspects of international trade-
a. The volume of Trade- Volume refers to the actual tonnage of goods traded. The volume of trade is measured as the total value of goods and services traded.
b. Composition of trade-At the beginning of the last century the percentage of primary products in the total traded goods was maximum. Later manufactured goods dominated and at present service, the sector is showing a rising trend.
c. The direction of trade- During the second half of the 20th century the world trade pattern underwent in a drastic change. The developing countries like India and China have started competing with developed countries.
Couldn't generate an explanation.
Generated by AI. May contain inaccuracies — always verify with your textbook.
