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(6) Question Paper Code : … The international trade promotes competition among the different countries. The geographical and climatic conditions, which differ from country to country, influence their specialisation in production and exports. TOS4. The taxes benefit the government because they ensure that citizens are capable of paying properties, sales and income tax. 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. Title: PAPER LB-5036 INTERNATIONAL TRADE LAW Author: user Created Date: 3/24/2011 11:54:34 AM These justify, in an ample measure, the rationale of a separate treatment of international trade. (vii) Differences in Economic Environment: The economic environment of a country consists of legal and international framework governing consumption, production, exchange and distribution, the monetary, fiscal and commercial policies, techniques of production, factor proportions, factor prices, production function, infra-structural facilities, taste patterns and preferences and degree of competition. Do you like the Quality of this sample? In this case, the country is able to utilize its wealth to further manipulate other developing states to implement policies that boost their wealth. 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 revenues from the taxes are collected by the government; hence protect domestic businesses by keeping citizens in employment. International Trade Question Paper International Trade . 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. The recent political and economic developments over the world have brought into limelight the strategy of growth through the maximum expansion of exports. The international trade promotes the product and factor specialisation in various countries. Get free past questions, answers, marking scheme, projects and reseach materials, test, course materials from your favourite hosted institutions The Nobel Laureate J.R. Hicks stressed, “If there is any branch of economic theory which is especially relevant to development economics, it is the study of international trade.” The relevant question, in this regard is why the prominent economists of all times have given so great an importance to the international trade. There are alternative strategies of growth. 2.Any material on paper – books, notes, etc. LB-3033 - Law of Crimes-III - Question Paper Dec, 2015 LB-3036 - Public Inter. One of them is called as the classical viewpoint, while the other is associated with Bertil Ohlin and Haberler. There are no such complex restrictions on the flow of goods within the same country. Government directly benefits from quotas and tariffs. Thus the problems and complications associated with balance of international payments distinguish the international trade from the internal or inter-regional trade. It has to be regulated so as to ensure that there is free flow of trade between countries. They are prepared to make sacrifices and adjustments for the sake of their compatriots. Nevertheless, in overseas trades, this becomes difficult because there is demand for a trusted intermediary that unites private and the public sector networks. “The Benefits of Tariffs & Quotas”. Therefore, government obtains revenue through these forms of taxes. The distinction between the international and inter­regional trade becomes more explicit because of the existence of different currencies in different countries. Course: Master Of Science In Agribusiness Management . It is, therefore, natural for them to specialise in the production and export of those goods, which involve relatively larger use of capital. The classical writers including Adam Smith, Ricardo and J.S. The only barriers to movement of goods are in the form of geographical distances and cost of transportation. The additional barriers on factor mobility are in the form of differences in language, climate, customs, and religions, political and educational systems. Or (b) (i) Discuss the barriers of international trade. 2 marks qstn from ecgc,export promotion capital goods scheme. 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. Very often such policies are in conflict with the economic, political and strategic interests of one country or the other. For instance, all domestic transactions in India take place in terms of rupees, which is the legal tender in this country. BA7401 - International Business Management - Model Exam Question Paper - Anna University Sylabus Or How did free trade agreements affect Canada’s agricultural industry? The difference between internal and international mobility of factors is only that of degree. 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. Content Guidelines 2. Search Colleges, Courses, Exams, Questions and Articles Search 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. 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. Essay Homework Help offers academic writing services to students either struggling to write their own papers or who lack sufficient time to complete their paper on time. From the above discussion, it becomes clear that the countries can derive immense gains from international trade. It may, however, be accepted that the degree of factor mobility within the same country is more than that on an international plane. There are serious constraints upon direct foreign investments as well as bilateral and multilateral lending’s to the developing countries. 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. For example, China relies on agriculture product exports to Japan. The complications in international trade are therefore, caused by the availability or shortage of foreign currency reserves, exchange rates, ease or difficulty in conversion, controls and restrictions on foreign exchange etc. All the residents of a country share a common political system. Our mission is to provide an online platform to help students to discuss anything and everything about Economics. The multinational corporations keep their techniques as guarded secrets. Such differences have a very significant impact upon the character of trade among the different countries. 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. 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. 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? Even that necessitates a separate treatment of international trade from the domestic trade. International Economics Duration : 2 Hours 1. In view of such complexities related to international trade policies, it seems appropriate to treat international trade as distinct from the domestic trade. Therefore, trade dependency enables the developed nations, such as China, Taiwan and others, to further promote their domestic industries. 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. 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. 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. Term Paper, Economics, International Trade, Term Paper on International Trade. Therefore, keeping domestic businesses competitive safeguards them from dying plants and decreasing their job forces. Note : The admissions for the GMU LLM International Trade Law program are through the CLAT PG Scores International trade law encompasses all the Laws and commercial aspects of law that govern International trade and commerce. This website includes study notes, research papers, essays, articles and other allied information submitted by visitors like YOU. They become concerned with the welfare of all groups of people in that country. International Trade. Most of the less developed countries are engaged in the production and export of primary products. No doubt the countries can achieve continuous expansion of their productive capacity and standards of consumption on the solid foundation of external trade. 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. Such differences may not exist in the case of markets within the same country. 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. The poor countries are generally starved of invisible funds. 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. The international mobility of factors, on the other hand, is neither free not perfect. The different countries have been endowed by nature with different types of natural resources. survive in the toughest of times nowadays have to have good international trading capabilities. 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.”. 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. Note: Attempt at least one question from each part and five questions in all. There are two opposite viewpoints on this issue. View International Trade Research Papers on Academia.edu for free. Sale of goods abroad at low a price, below their cost and … The poor countries have a very limited capacity to produce and export. 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 immigration has played a highly significant role in the development of several countries like the U.S.A, Britain, Canada, Australia, New Zealand and the countries of South America. In this case, tariff rates equivalent to the difference in labour and fixed cost between industrialized and developing countries, less the shipping costs, equalize cost so that the domestic businesses remain competitive. 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. 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 … 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. Within a given country a single uniform national policy governs the domestic or inter-regional transactions. – books, notes, etc: international trade has created an acute of! Adjustments for the sake of their productive capacity and standards of consumption on the other is associated with Bertil and. 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