Comparison: International Business, International Transactions and International Trade

Trade is the transaction of buying or selling of goods and services from one country to another. Because of trade, international consumers now have a wide assortment of products placed directly in front of them that their region cannot provide. For instance, one can walk around the Bronx and come to the zoo where there will be a giraffe from South Africa showcased for all to see. There are no safari like animals such as the giraffe freely roaming around America. This is all possible due to the trading system that has been

The exchange of goods and services between international borders or territories is known as international trade. It allows countries to use excess resources, if the resource can be produced more efficiently then it can be sold cheaply. If a country lacks access to certain resources they can obtain that resource through the aid of international trade.

Trade is how goods or services are exchanged between countries. An exchange is broken down into two categories: imports and exports. Imports are goods and services coming into a country; whereas, goods and services flowing out of a country are exports. When different countries trade with each other, they develop a trade deficit, a trade surplus, or a trade balance. A trade deficit is when the value of imports exceeds the value of exports, and a trade surplus is when the value of exports exceeds the value of imports. A trade balance is when imports and exports are traded at equal rates/amounts.

(2012). Chapter 7: International Strategy. In G. G. Dess, G. T. Lumpkin, A. B. Eisner, & G. McNamara, Strategic Management (pp. 257, 259-260). New York: McGraw-Hill/Irwin.

International trade and finance:

The term trade can defined as the movement of goods and consumables across the boundaries of the two regions in order to promote the access to items which are distinct in one region but surplus in the other. The international trade is as old as the history of mankind. Earlier when there was no concept of countries, the trade simply meant the movement of goods to far distant places. As soon as man realized that an access is needed to items that are not available in his region, he travelled and found them abroad. Now the difficulty was to gain control over those items while maintaining peace. This was how, the term barter and trade came into existence and people started to enter into agreements to transfer goods for goods or goods for money.

Trade between nations of the world is extremely important in many aspects such as keeping a strong relationship between countries and to hold a good strong trust. It is through trade that

Trade is a fundamental component of the Australian economy as it is through international trade that Australia is able to attain goods, services, resources and ideas.

International trade is the exchange of goods and services between nations. Goods meaning tangible objects like clothes, food and such, while services are non-tangible items like tourism and education. Australia imports and exports a variety of goods and services. Australia’s leading exports in 2009 were Coal, Iron & or and education, while

From the word, Global trade is the import and export of goods and services between different countries, which also promotes product diversity for example; Pizza is from Italy and not Canada. As stated in businessdictionary.com, it is the worldwide business that involves making and collecting payments for transactions in goods and services, and transporting them to interested markets.

2. Course Text Book: Ball, Donald; Geringer, Michael; Minor, Michael; McNett, Jeanne. International Business. McGraw-Hill Higher Education, 13th edition, 2012. Print

     International trade is defined as trade between two or more partners from different countries in the exchange of goods and services. In order to understand International trade, we need to first know and understand what trade is, which is the buying and selling of products between different countries. International Trade simply is globalization of the world and enables countries to obtain products and services from other countries effortlessly and expediently.

International business contains all business transactions private and governmental, sales, investments, logistics, and transportation that happen between two or more regions, nations and countries beyond their political limits. Generally, private companies undertake such transactions for profit governments undertake them for profit and for political reasons. It refers to all those business activities which involve cross border transactions of goods, services, resources between two or more nations. Transaction of economic resources includes capital, skills, and people. for international production of physical goods and services such as finance, banking, insurance, and construction.

International business is a term used to collectively describe all commercial transactions (private and governmental, sales, investments, logistics,and transportation) that take place between two or more nations. It consists of transactions that are devised and carried out across national borders to satisfy the objectives of individuals, companies, and organizations. Usually, private companies undertake such transactions for profit; governments undertake them for profit and for political reasons. It refers to all those business activities which involves cross border transactions of goods, services, resources between two or more nations. Transaction of economic

International trade is the exchange or trade of merchandise, capital and services across the world. For many countries, these exchanges can represent a very important share of their GDP (Gross Domestic Product).