paper related to international trade (April 19), international migration (May 17), or multinational enterprises (May 31). 2.Any material on paper – books, notes, etc. ECO 352 – International Trade – Spring Term 2010 SAMPLE FINAL EXAMINATION IMPORTANT INSTRUCTIONS: 1.No electronic equipment – computers, calculators, cell phones etc. One of them is called as the classical viewpoint, while the other is associated with Bertil Ohlin and Haberler. On the basis of logic of free international trade, the advanced countries have continued to exploit the natural resources of the poor countries for the expansion of their industries and their markets for dumping their exports. Institution: Kenyatta University question papers. Some of the countries of the Third World have landed themselves in the serious debt trap where they have to resort to fresh borrowing just for the purpose of debt servicing. The answer lies in the immense advantages of foreign trade that are discussed below: (i) International Division of Labour and Specialization: The division of labour and specialization of products by individual firms accelerate the rate of production, lower costs and maximize profits. “Trade Policies, Developing Countries, and Globalization.” 2001. The international trade emphasises upon the mutuality of interests among the trading countries. In this way, domestic corporations retain a proportion of the current market share. (6) Question Paper Code : … Thus the differences in resource endowments are one of the reasons for the international economic inter-dependence of the countries. (15 marks) Discuss the advantage of disadvantages of indirect exporting as a mode of entering foreign markets. In the words of Ohlin, “International trade should be regarded as a special case within the general concept of inter-regional or perhaps rather inter-local trade.” Within the same country, the different regions specialise in the production of different commodities due to differences in resource endowments, skill and efficiency of the people. BA7401 - International Business Management - Model Exam Question Paper - Anna University Sylabus They become concerned with the welfare of all groups of people in that country. 926 Words | 4 Pages. In several other countries, the spirit of nationalism and urge for self-sufficiency has resulted in the adoption of import substitution policies which also tend to reduce the international trade. In case of international trade, there is no such cohesion as the peoples of different countries belong to different political entities. Buy CS Strategic Management Alliances and International Trade Question Paper PDF Online. This type of expectation has not been realized. International trade is defined as trade between two or more partners from different countries in the exchange of goods and services. B. Students are also 23 April, 2013. Web 23 April, 2013. Reducing tariffs. There are two opposite viewpoints on this issue. Even in recent times, the advanced countries have employed trade and economic assistance as the pretexts for their political interference in the poor countries. The distinction between the international and inter­regional trade becomes more explicit because of the existence of different currencies in different countries. For instance, the right- hand driven motor cars, electrical goods, readymade garments and indigenous medicines produced in India can be easily marketed in India but it may be difficult to sell them in the foreign markets like those of the U.S.A and Canada. The taxes benefit the government because they ensure that citizens are capable of paying properties, sales and income tax. A free list of international business topics for research is suggested here by the Students Assignment Help as research paper topics help. In this way, the foreign trade can efficiently deal with the problems of internal inflation or deflation and ensure a greater degree of stability in prices. Hence there is full justification in having a separate theory of international trade. 11. For example, China relies on agriculture product exports to Japan. For instance, in the United States, the government offers in-country service interventions in combination with other service providers. If the factors of production are perfectly mobile within the same country, they will tend to move to these regions where their prices are relatively higher. View International Trade Research Papers on Academia.edu for free. The wealth and prosperity of every country depends on trade. TOS4. BA7401 - International Business Management - Model Exam Question Paper - Free download as Word Doc (.doc), PDF File (.pdf), Text File (.txt) or read online for free. For this reason, the government intervenes in such situations to solve market failures or issues of fairness and equity. Whether you are looking for extra hours to be with your family, ill or you are running out of time, simply contact our MBA Writers via the order button below and we will be glad to assist... Why should you submit your homework late when you can simply have one of our MBA Writers have it done so perfectly as if you wrote it yourself? According to him, international trade is an engine of growth. The countries like Australia and Canada produce and export farm products. Hello Friend Welcome To The My Channel B.com. Consequently, it should be recognised that there is neither perfect factor mobility within the same country nor prefect immobility of factors among the different countries. Web. Chat with your writer now... © 2019. Some of these adjustments may be to the disadvantage of one or more trading partners. There are severe constraints upon the mobility of labour and capital such as immigration laws, restrictions on the international capital flows and legal restrictions. Therefore, keeping domestic businesses competitive safeguards them from dying plants and decreasing their job forces. In the case of international trade, the values of exports and imports between two trading countries over a short or long period may not get fully matched, giving rise to surplus or deficit in international payments. The exchange of surplus goods between different countries is called International trade. The transfer of technology to the less developed countries has so far taken place only to a very limited extent. No doubt the countries can achieve continuous expansion of their productive capacity and standards of consumption on the solid foundation of external trade. It becomes possible to import superior varieties of products at reasonable prices. It is, in fact, this recognition that has accorded to international economics the status of an independent branch of economic theory. MEC-007 International Trade and Finance in English Previous Year Question Papers IGNOU ALL Previous Year Question Papers IN ONE PDF. These justify, in an ample measure, the rationale of a separate treatment of international trade. Chat with a representative right now for a customized, well researched and non-plagiarized paper. Both developed and poor countries have to depend upon foreign capital for financing international payments deficit and economic development. The Iraqi occupation by the U.S. and British forces in 2003 was basically meant to enable the occupying countries to maintain their strangle hold on the source of supply of crude oil. It is, therefore, natural for them to specialise in the production and export of those goods, which involve relatively larger use of capital. Kindly help. What is International Trade? They are prepared to make sacrifices and adjustments for the sake of their compatriots. Or (b) (i) Discuss the barriers of international trade. Trade is the concept of exchanging goods and services between two people or entities. International trade ensures the application of the principles of division of labour and specialisation to the fields of production and international exchange of commodities by the various countries. ( I prefer to write about the positive impacts rather than the negative ones) please … International Trade Term Paper: International trade is the exchange of capital, goods, and services across international borders or territories. Read all answers to question:Urgently need sample/last year question papers of Certificate in Trade Finance and AML-KYC. Welcome to EconomicsDiscussion.net! Sale of goods abroad at low a price, below their cost and … Such differences may not exist in the case of markets within the same country. It is true that international specialisation in production and exports has some merits but it is also important to recognise some of the problems created by it. Thus the problems and complications associated with balance of international payments distinguish the international trade from the internal or inter-regional trade. EXAMPLES OF RESEARCH QUESTIONS FOR THE TERM PAPER Aalto University, International Trade (31E00500), Winter 2016 These suggestions are included only to provide you ideas on possible topics. They help the government to safeguard jobs by hindering overseas competitors from selling goods at prices that are excessively low for domestic businesses to match. Trade failures emerge for some reasons where traders fail to provide a particular product or service to the level anticipated by the entire community. There is neither willing bilateral accommodation of borrowing countries by the advanced leading countries nor there is any satisfactory multilateral arrangement so far to tackle this critical situation. International business is one of these fields on which college students have to write their research papers. The international trade tends to cause specialisation of production, which militates against the diversification of industries and creates a blockade in the process of growth. Glass Meredyth. Will Martin. The revenues from the taxes are collected by the government; hence protect domestic businesses by keeping citizens in employment. PART I. Q. The immobility of labour and capital permits the different countries to specialise in the production and export of specified goods. (25 marks) No. In addition, there are differences in national policies, political organizations, monetary systems and tariff and non- tariff restrictions among the different countries. The international trade has created an acute problem of repayment of international debts. Research within librarian-selected research topics on International Trade from the Questia online library, including full-text online books, academic journals, magazines, newspapers and more. Since, the quotas tax protects domestic job they make sure that overseas products are not imported in adequate numbers to meet the existing demand. Trade dependency helps these nations to safeguard themselves from being influenced by other developed countries, making their systems more secure as time goes by. From the above discussion, it becomes clear that the countries can derive immense gains from international trade. Their reactions to such policies may vary from resentment to retaliation. Therefore, the government intervention is because it needs to protect its country by limiting trade and directing investment within the nation to industries that it believes will be significant for the country in future. The multinational corporations keep their techniques as guarded secrets. For instance, in some trading methods or systems, appealing trades are likely to follow other appealing trades and losses are likely to go after losses. In the case of international trade, the trading countries follow different national policies concerning imports, exports, capital inflows and outflows, tariffs, quotas, exchange controls and other barriers to the international movement of goods and services. (v) Differences in Geographical and Climatic Conditions: It is not possible for a given country to produce domestically every type of product. These are quite distinct from the theory related to inter­regional or internal trade. When it has been fully recognized that the international trade is distinct from the internal trade, the most relevant question concerns the distinguishing features of international trade. Among the different regions of the same country, there is a free mobility of labour and capital but serious constraints exist upon the international mobility of these factors. All these institutions are making efforts to create a new international economic order. The export-led growth provides sufficient export earnings that can be ploughed back for the development not only of export sectors but various other sectors of the economy. In case of inter-regional trade, the transactions generally take place at the micro level (among individuals and business firms). The geographical and climatic conditions, which differ from country to country, influence their specialisation in production and exports. Each country sells its products in those markets where it can get most remunerative prices and buys the essential raw materials and intermediate products from those markets where these are the cheapest. It has been a historical experience that the international prices of primary products with the exception of petroleum products, have declined relative to those of the manufactured goods. “The Benefits of Tariffs & Quotas”. – can be used. It creates consciousness about the problems faced by the different countries related to balance of trade and payments, international debt payments, exchange rate fluctuations, tariff and non-tariff barriers and shortage of invisible funds for development. Similarly large surpluses of domestic production can be disposed of in the foreign markets to realise larger export earnings. The additional barriers on factor mobility are in the form of differences in language, climate, customs, and religions, political and educational systems. The international trade cultivates mutual co-operation among the countries and facilitates the international short term and long term flows of capital. Before publishing your Articles on this site, please read the following pages: 1. The countries are obliged to adopt appropriate measures like import restrictions through tariffs or non-tariff barriers, subsidisation of exports, capital movements, depreciation or devaluation, monetary policies, expenditure policies and physical or financial controls. International Trade. This website includes study notes, research papers, essays, articles and other allied information submitted by visitors like YOU. In the absence of international trade, the domestic surpluses or shortages in production invariably lead to serious deflationary and inflationary trends and consequent destabilization of the entire system. Each country specialises in the production and export of those commodities in which they are well- endowed. For instance, India has been exporting iron ore, manganese and mica and the Middle East countries export petroleum products just because they are well-endowed with these materials. This is referred to as positive dependency because, wins go after wins while losses go after losses. 1. The spirit of nationalism makes them subserve their regional clashing interests. < http://www.ehow.com/info_12201440_benefits-tariffs-quotas.html>. Each country is guided by enlightened self-interest and there is little concern about terms of trade becoming detrimental to some foreign country. (Glass 38). Privacy Policy3. The International Trade is a very important aspect in the positive growth of the world economy. INTERNATIONAL TRADE. The occurrence of trade failure does not necessarily imply that only the government can give the services, however, some form of government interventions are potentially required to deliver the correct outcome. Find paragraphs, long and short term papers on ‘International Trade’ especially written for school and college students. Search Colleges, Courses, Exams, Questions and Articles Search This leads to an optimum allocation and utilisation of all the productive resources of the world. The international competition increases the efficiency of production. The theories and models dealing with micro and macro aspects of international trade have been built up by the modern writers like Samuelson, Leontief, Johnson and Jagdish Bhagwati. Abstract. In order to understand International trade, we need to first know and understand what trade is, which is the buying and selling of products between different countries. Time: 3 hours Maximum Marks: 100. The difference between internal and international mobility of factors is only that of degree. The advanced countries have fought two World Wars in the last century just for scramble of colonies or the sources of raw materials and dumping places for their manufactured goods. Exam Year: 2010. The economies of several advanced and poor countries are almost completely dependent upon the external trade. In conclusion, the taxes are used to limit world trade, which in turn reduces total production, diminishes economic efficiency, increases prices and encourages retaliation, which in turn benefits both government and citizens. Faced with the excessive strain of payments deficit, the less developed countries are not likely to achieve a higher rate of growth. (b) ―The Uruguay Round of Negotiations finally led to the creation of WTO‖. Dumping refers to: A. The advanced countries have behaved in the most hypocritical way in the matters of trade policies. International Trade Question Paper International Trade . – can be used. The economies of the OPEC (Organization of Petroleum Exporting Counties) nations will collapse instantly, if they cannot export crude oil and petroleum products to the other countries. The classical writers including Adam Smith, Ricardo and J.S. Note: Attempt at least one question from each part and five questions in all. 2 marks qstn from ecgc,export promotion capital goods scheme. 0512017: Trade, Poverty and Employment: The Social Consequences of Integration with China Lucio Castro and Daniel Saslavsky 0512016: Trade balance and terms of trade in U.S.: a time-scale decomposition analysis Luca De Benedictis and Marco Gallegati 0512015: Environmental Goods: Where Do the Dynamic Trade Opportunities for Developing Countries Lie? Adam Smith enunciated the international specialisation through these words- “The tailor does not attempt to make his own shoes, but buys them from a shoe maker. There is a relatively more free mobility of products within the different regions of a country. The Law of International Trade, HIH Exam Paper, Autumn 1991 : Document Information : MetaData : Word Map (index) ( International Trade/Commercial Law & e-Commerce Monitor ) W3 since October 3 1993 1993 - 2006. started @The University of Tromsø, Norway In such a case, government is normally uniquely positioned in providing this service. Most of the less developed countries are engaged in the production and export of primary products. Thus both the poor and advanced countries reach higher production frontiers through trade. Get Free Sample Of Strategic Management Alliances and International Trade Question Paper PDF and Get Upto 53% OFF on MRP/Rental. There have been growing tendencies towards protectionism among the advanced countries. It is, therefore, clear that there is a relatively greater degree of factor mobility within the different regions of the same country than among the different countries. The movements of labour have continued to take place from one country to another despite restrictions. The poor countries also expect that their growing trade relations with advanced countries will enable them to secure advanced technical know-how for the transformation of their productive sectors. Alfred Marshall said, “The causes of which determine the economic progress of nations belong to the study of international trade.” D.H. Robertson expressed it in a more forthright manner. Even the countries like the U.S.A., Canada and Australia are not likely to maintain their existing standards of consumption and production in the absence of international trade. It is because of the geographical or climatic reasons that Australia exports wheat; India exports tea; Malaysia exports rubber; Thailand exports rice; Cuba exports meat and sugar; Brazil exports coffee; and Bangladesh exports jute. Term Paper on International Trade Term Paper # 1. Topic: International trade agreements and Agriculture hello I need help to write a paper that answers the following question: What are the benefits of trade agreements on Canada’s agricultural industry? Such differences have a very significant impact upon the character of trade among the different countries. When each country specialises in the production and exports of those goods which it is most suited to produce and imports those goods which it can procure cheaper from the others, it derives gain from trade in the form of an increase in real income and improvement in the consumption standard of its people. Therefore, trade dependency enables the developed nations, such as China, Taiwan and others, to further promote their domestic industries. [* The question is set on the basis that Botswana is a Contracting State to the U.N. Convention for the International Sale of Goods 1980 as is suggested by the ratification table in Basic Documents on International Trade Law, 2nd ed. The only barriers to movement of goods are in the form of geographical distances and cost of transportation. Get homework Help now! These are a form of taxes imposed by a government on products to limit trade. While on the one hand, they want developing countries to have a tariff-free trade regime, but on the other, they themselves follow discriminatory trade and tariff policies and do not permit greater access for the products of less developed countries to their markets. They import such products, in the production of which they face a resource deficiency. Even when there are differences among the various groups of people on account of language, caste, religion, customs and food habits, they still have the sense of belonging to the same nation. There are alternative strategies of growth. The classical assumption of perfect mobility of factors within the country and their perfect immobility among the different countries is, however, too drastic and not acceptable. They co-operate among themselves to resolve these problems in the spirit of co-operation and understanding and devise bilateral arrangements that serve their common interests. provisions have almost prohibitive effect on the development of indigenous technologies by the poor countries. Countries like the U.S.A., England, Germany and Japan are abundant in capital. How Smartphones effect on the family members social behavior, Sample Essay on Students in Public Schools should Wear Uniforms, Sample Research Paper on Action Change Request, Sample Critical Thinking Paper on International Trade. For the countries like England, Japan and Germany, having large productive surpluses but smaller domestic market, the external trade is a matter of life and death. PAST EXAMS INTERNATIONAL BUSINESS International Trade Preview text Exams, Awards Graduations EXAM COVER SHEET NOTE: This exam paper may be RETAINED the student EXAM DETAILS Course Code: ECON1269 Course Description: International Trade Date of exam: Start time of exam: 9h15 AM Duration of exam: 2hr 15min Total number of pages (incl. In this case, the country is able to utilize its wealth to further manipulate other developing states to implement policies that boost their wealth. The costs of transporting goods to the foreign countries are generally higher than those in the inter-regional trade because of vast geographical distances between the different countries. Content Guidelines 2. In the case of international trade, on the contrary, there are several more man-made barriers to the free movement of products apart from distance and transport costs. In the case of negative dependency, winners are said to follow losers while losers follow winners. It is believed that the international trade can encourage the flow of development finance from the advanced countries to the poor. The international markets lack homogeneity on account of differences in languages, tastes, fashions, customs and systems of weights and measures. The developing countries can achieve economic self- sufficiency if they provide protection to their infant industries from the onslaught of destructive competition from the multi-national corporations. In their opinion, the difference between international and inter-regional trade is only of degree and not of kind. Do you like the Quality of this sample? Domestic exchange does not involve the complexities and complications that are present in the international exchange of goods and services due to differences in currency units. The farmer attempts neither the one nor the other, but employs those artificers….If a foreign country can supply us with a commodity cheaper than we ourselves can make it better buy it from them with some part of the produce of our own industry employed in a way in which we have some advantage.”. It is the basis of the world economy because: The resources are unevenly distributed. (10 marks) Question Five Discuss the political legal forces that influence international trade. In the words of Haberler, “International trade has made a tremendous contribution to the development of less developed countries in the 19th and 20th centuries and can be expected to make an equally big contribution in the future.”. On the basis of the peculiarities and distinguishing features, it is proper to recognise that the classical writers are on a strong wicket when they stress upon a separate treatment of international trade theory from that of domestic trade. Since quite earlier times, there has been a controversy among the economists on the issue whether or not there is the need for a separate theory of international trade. The advanced countries, on the other hand, produce and export manufactural goods. The organisation of regional economic groupings and consequent raising of tariff against the countries outside the group is clearly violative of the goal of establishment of a new international economic order and is harmful to the interests of the weak and poor of the world. Each factor of production tends to have the same price throughout the country. Since the times of Mercantilists, who had advocated the accumulation of gold or wealth through creation of trade surpluses by the promotion of exports and restrictive import policies and classical economists, led by Adam Smith, who supported the free international trade, the trade among nations has been given a place of pride in the economic progress of nation. Given the specific natural endowments every country should specialise in the production and export of only that commodity or commodities in the production of which it has greater comparative cost advantage than the others. View Question Paper IE.docx from FINANCE 100 at Indian Institute of Foreign Trade. But economic environment does differ from one country to another. The international trade permits a country to import new machines, equipment, designs and technical services from other countries and can bring about a steady expansion in its productive capacity. The recent political and economic developments over the world have brought into limelight the strategy of growth through the maximum expansion of exports. KENYATTA UNIVERSITY UNIVERSITY EXAMINATIONS 2010/2011 INSTITUTIONAL BASED PROGRAMME (IBP) AUGUST SESSION It has to be regulated so as to ensure that there is free flow of trade between countries. It may, however, be accepted that the degree of factor mobility within the same country is more than that on an international plane. It signifies that the conditions governing the exchange of goods within different regions of the same country are not applicable in the case of exchange of goods among the different countries. The inter-regional mobility of factors can completely wipe out the differences in prices of factors in different regions. Use examples to elaborate. This is done at low prices, which lead to better international relations, economic corporation and foreign exchange. The different regions are engaged in the exchange of different commodities essentially because of the motive of profit or gain from trade. Although IMF has been engaged since its inception in the task of stabilisation of exchange rates and consequent stability in the international trade and payments, yet the different countries continue to adopt such trade, foreign exchange and other policies which have created obstacles in the international stability of exchange rates. International Trade Question Paper Test which you will find below, you can start the quiz below, it is taken from Indian Economy and all the questions are taken from economics papers like SSc exam, SSCFCI,SSCJE,SSCGD,SSCMTS,SSCCHSL,SSCCGL,SSCCPO,UPSC,CSE,UPSC,IAS,UPSC,CDS,UPSC,NDA,UPSC,IES,UPSCCAPF,UPSCSCRA,RPSC,TSPSC,TNPSC,UPPSC,HSSC,RRB NTPC,RRB ALP,RRB Group D,RRB JE, CTET,UPTET Quiz state wise exam or any exam where Gk … For school and college students modern times international trade question paper their regional clashing interests get Upto 53 % OFF MRP/Rental! 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