Understanding International Trade

International trade refers to the trade that happens across international borders or territories. It includes the exchange of capital, goods and services with different countries. Export and import are the fundamental activities of international trade. It is a complex process that is affected by various factors such as currency, government, economy, policy, judicial system and markets. It provides consumers and countries the opportunity to be exposed to new markets and products. There are numerous models which are used to explain the factors behind international trade. Some of these are Adam Smith's model and Ricardian model. This book covers in detail some existent theories and innovative concepts revolving around international trade. It will serve as a valuable source of reference for graduate and post graduate students. Coherent flow of topics, student-friendly language and extensive use of examples make this textbook an invaluable source of knowledge.