PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!
How trade allows specialization and division of labor african history assignment help: african history assignment help
First, international trade allows specialization and division of labor (Cooper & West, 2018), different countries major on various products they can best produce or manufacture. For example, apple company design iPhones in California. However, the phones are assembled in China. This improves the quality of products and their production volume as each country does what its best on. This also reduces the end product price as the countries involved significant on only one part of the production, and they acquire only the resources necessary for the production on their end.
Secondly, international trade allows both the consumers and the countries to enjoy goods and services that they don’t produce or are not available in their countries. For example, minerals are only distributed in some regions, and some countries fall in areas where there are no certain minerals. For example, a lot of crude oil is produced in the middle east, and through international trade, countries with no crude oil still use oil products which they import from regions with such resources through international trade.
International trade also creates good relations among countries involved in this type of trade. This is a very significant advantage among the citizens of this countries as sometimes the government allows free movement among the countries involved in the business. The government also reduces export and import taxes, enabling consumers from different countries to enjoy goods and services at a lower or fair price.
How international trade creates a broader market as history essay help
Besides, international trade creates a broader market. During international trade, producers do not focus only on domestic work as they produce goods and services which are later exported to other countries. In the end, sales volumes increase, enabling the business to generate more profit, and there is the easier expansion of such companies ( Larisa, 2017). Sometimes, companies can thrive and open their branches in other countries, becoming global companies.
There is better risk management in international trade as compared to domestic business. When entrepreneurs focus only on the domestic market, they are exposed to potential risks resulting from their countries economy, environmental calamities such as floods, or even unstable political factors. By engaging in international trade, the entrepreneurs reduce dependency on a single market, which helps them minimize their risks in their entire market.
The countries are participating in international trade benefit from currency exchange. Many countries use a different currency. One may benefit during currency conversion, especially when your home currency is stronger than the other countries involved in the trade. The additional advantage is that one may gain access to export finances provided either by the motherland or foreign governments.
Disposal of surplus goods, sometimes the domestic market cannot consume all the products produced, through international trade such countries can sell their excess produce to other countries. This motivates producers to create more goods and services to market in domestic and international trade.
Reference
Cooper, G. A., & West, S. A. (2018). Division of labor and the evolution of extreme
Better risk management in international trade help me with my history homework: help me with my history homework
There is better risk management in international trade as compared to domestic business. When entrepreneurs focus only on the domestic market, they are exposed to potential risks resulting from their countries economy, environmental calamities such as floods, or even unstable political factors. By engaging in international trade, the entrepreneurs reduce dependency on a single market, which helps them minimize their risks in their entire market.
The countries are participating in international trade benefit from currency exchange. Many countries use a different currency. One may benefit during currency conversion, especially when your home currency is stronger than the other countries involved in the trade. The additional advantage is that one may gain access to export finances provided either by the motherland or foreign governments.
Disposal of surplus goods, sometimes the domestic market cannot consume all the products produced, through international trade such countries can sell their excess produce to other countries. This motivates producers to create more goods and services to market in domestic and international trade.
Reference
Cooper, G. A., & West, S. A. (2018). Division of labor and the evolution of extreme
specialization. Nature Ecology & Evolution, 2(7), 1161-1167.
Larisa, M. (2017). International trade between the Russian Federation and the European Union: Its weaknesses, potentials, and advantages.
How international trade benefit from currency exchange history homework help
The countries are participating in international trade benefit from currency exchange. Many countries use a different currency. One may benefit during currency conversion, especially when your home currency is stronger than the other countries involved in the trade. The additional advantage is that one may gain access to export finances provided either by the motherland or foreign governments.
Disposal of surplus goods, sometimes the domestic market cannot consume all the products produced, through international trade such countries can sell their excess produce to other countries. This motivates producers to create more goods and services to market in domestic and international trade.
Reference
Cooper, G. A., & West, S. A. (2018). Division of labor and the evolution of extreme specialization. Nature Ecology & Evolution, 2(7), 1161-1167.
Larisa, M. (2017). International trade between the Russian Federation and the European Union: Its weaknesses, potentials, and advantages.