THE SCOPE OF INTERNATIONAL ECONOMICS TRADE

THE SCOPE OF INTERNATIONAL ECONOMICS TRADE While general economics theory deals with the problem of single, close economy- international economics deals with the problem of two or more open economics. In particular, international economics deals with the same economic problem as those studied by their international setting. Thus, international economics studies how a number distinct economics interact upon each other in the process of allocating scarce resources to satisfy human wants. Clearly, international economics is more general than the economics of a closed economy. The latter being a special case of international economic where the number of trading countries has been reduced to me. Future, the study of general economic theory dealing with the problem of a closed economy is only first...

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INTRODUCTION OF TRADE

INTRODUCTION OF TRADE Economics is a social science. Broadly speaking. It is concerned with the use of scarce resources for the satisfaction of human wants.Like other disciplines, economics is divided into several branches and sub-branches; The tow major branches are microeconomics and macroeconomics. Microeconomics is the study behavior of individuals and well-defined  groups of individual in the society,Economics is a social science. Broadly speaking. It is concerned with the use of scarce resources for the satisfaction of human wants. Like other disciplines, economics is divided into several branches and sub-branches; The two major branches are microeconomics and macroeconomics. Microeconomics is the study behavior of individuals and well-defined  groups of individual in the society,...

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