You must complete Home Trade II: Wholesale Trade; Channels of Distribution to unlock this Lesson.
FOREIGN TRADE
CONTENT
- The Meaning of Foreign Trade
- Differences and Similarities between Home Trade and Foreign Trade
- Measures to Promote Export Trade
- Entre-port Trade
- Functions of the Nigeria Export Promotion Council
- Forms/Types of International Trade
- Reasons for International Trade
- Benefits of International Trade
- Disadvantages of International Trade
- Divisions of Foreign Trade
- Barriers to Foreign Trade
The Meaning of Foreign Trade
Foreign trade which is also called international trade, external trade refers to buying and selling across the border of a country i.e. trade between buyers and sellers at least two different countries. Foreign trade can be either export or import. Export means, selling goods or services abroad i.e. The seller is resident in the country while the buyer is resident in another country. Import on the other hand refers to buying of goods or services from abroad i.e. the buyer is resident in the country while the seller is resident in another country.
EVALUATION
- What is international trade?
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ClassHall Instructor
Halima Ahmadu