Meaning: Foreign exchange is the name given to any foreign currency. The market in which currencies of various countries are exchanged is called foreign exchange market. The participants of this market are commercial banks, foreign…
Introduction: The balance of payment of a country is a systematic record of its receipts and payments in international transaction in a given year. Each transaction is entered on the credit and debit side of…
Introduction: The central bank aims at providing financial and economic stability in the country. It supervises controls and regulates the activities of all the commercial banks and other financial institutions of the country. Thus central…
Introduction: Quotas in economics refers to limits set by a government on the quantity or value of a particular good that can be imported or exported during a specified period. These restrictions are used to…
Meaning: Tariffs are taxes or duties imposed by a government on imported goods and services. They are used as a tool to control trade between countries, protect domestic industries, and generate revenue for the government.…
Meaning: The rate at which a given quantity of a country’s export goods are exchanged for a given quantity of import goods is called the terms of trade. In other words, the terms of trade…
Introduction: Bertin – Ohlin, in his famous book inter regional and international trade 1933 criticize the classical theory of international Trade and formulated General Equilibrium Theory called Modern Theory of International Trade or Heckcher- Ohlin…
Introduction: David Ricardo a British economist of 19th century analyzed the causes for and the benefit of international trade in terms of comparative cost. David Ricardo agreed with the analyses of Adam Smith that international…
Introduction: International trade is trade between different countries of the world. It refers to the exchange of goods and services between one country or region and another. It is also sometimes known as external or…
Introduction: International trade is trade between different countries of the world. It refers to the exchange of goods and services between one country or region and another. It is also sometimes known as external or…