{"id":5143,"date":"2019-02-14T05:01:38","date_gmt":"2019-02-13T23:31:38","guid":{"rendered":"http:\/\/astan.lk\/al_virtualclassroom\/?p=5143"},"modified":"2019-02-16T11:44:07","modified_gmt":"2019-02-16T06:14:07","slug":"international-trade","status":"publish","type":"post","link":"https:\/\/astan.lk\/al_virtualclassroom\/international-trade\/","title":{"rendered":"International trade."},"content":{"rendered":"<p><strong>When one country trades with another country or countries, it is called international<\/strong><br \/>\n<strong>trade.<\/strong><br \/>\n\u0097 International trade is based on the following factors.<\/p>\n<ul>\n<li>Indirect production<\/li>\n<li>A surplus or deficit of production\u2019<\/li>\n<li>Cost of production<\/li>\n<li>Globalization<\/li>\n<li>Changes in preferences<\/li>\n<li>Promotion of goods<\/li>\n<li>Less trade barriers<\/li>\n<\/ul>\n<p>\u0097 When a country buys goods from a foreign country, it is called import. The relevant country has to pay foreign exchange for this transaction.<br \/>\n\u0097 When a country sends goods to a foreign country or countries, it is called export. The relevant country receives foreign exchange from this transaction.<br \/>\n\u0097 When the goods imported from foreign countries are exported after processing or not processing inside the harbor, it is called entreport and when the imported goods are brought into the country and exported again after changing them or not making any change to them, it is called re-exports.<br \/>\n\u0097 <strong>A country can achieve many benefits by being involved in international trade.<\/strong><\/p>\n<ul>\n<li>Ability to export surplus production<\/li>\n<li>Ability to import products which cannot be produced.<\/li>\n<li>Ability to earn foreign exchange.<\/li>\n<li>Improvements in international trade relationships.<\/li>\n<li>Improvements in new technology and management competencies.<\/li>\n<li>\u00a0Paving way to new international markets<\/li>\n<li>Improvements in international co-operation .<\/li>\n<li>Ability to consume more goods.<\/li>\n<\/ul>\n<p>\u0097 When different parties can independently import and export goods without any barriers, it is called fr<strong>ee trade.<\/strong><br \/>\n\u0097 The barriers to free trade can be classified as tariffs and non-tariffs.<br \/>\n\u0097 Imposing of tariffs for international trade is a barrier to free trade.<br \/>\n\u0097There are non tariff factors too which act as barriers to free trade.<br \/>\nExamples :<\/p>\n<ul>\n<li>Import limitations\/ quota<\/li>\n<li>Export limitations\/ quota<\/li>\n<li>Export\/ Import bans<\/li>\n<li>Trade agreements<\/li>\n<li>Rigid exchange policies<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>When one country trades with another country or countries, it is called international trade. \u0097 International trade is based on the following factors. Indirect production A surplus or deficit of production\u2019 Cost of production Globalization Changes in preferences Promotion of goods Less trade barriers \u0097 When a country buys goods from a foreign country, it [&hellip;]<\/p>\n","protected":false},"author":842,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[10,2399],"tags":[],"class_list":["post-5143","post","type-post","status-publish","format-standard","hentry","category-business-studies","category-unit-11-en-business-studies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>International trade. - Learning &amp; Education Portal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/astan.lk\/al_virtualclassroom\/international-trade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"International trade. - Learning &amp; Education Portal\" \/>\n<meta property=\"og:description\" content=\"When one country trades with another country or countries, it is called international trade. \u0097 International trade is based on the following factors. 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