The essence and role of international trade in the world economy

Date: 2015-10-07; view: 448.

Theme of the lecture №1.

LECTURES COMPLEX (THESES OF LECTURE)

Thesis:

International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history (Silk Road, Amber Road), it's economic, social, and political importance has been on the rise in recent centuries.

International economics is concerned with the effects upon economic activity of international differences in productive resources and consumer preferences and the institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries, including trade, investment and migration.

The International Labour Organization (ILO) is a United Nations agency dealing with labour issues, particularly international labour standards anddecent work for all. Almost all (185 out of 193) UN members are part of the ILO.

The ILO registers complaints against entities that are violating international rules; however, it does not impose sanctions on governments.

A market is one of many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labor) in exchange for moneyfrom buyers. It can be said that a market is the process by which the prices of goods and services are established.

A closed household economy is a society's economic system in which goods are not traded. Instead, those goods are produced and consumed by the same households.

Economic security or financial security is the condition of having stable income or other resources to support a standard of living now and in the foreseeable future.

Literature: 1-36.