Q. 9 A3.7( 3 Votes )

Note:

Answer :

Three important aspects of international trade-

a. The volume of Trade- Volume refers to the actual tonnage of goods traded. The volume of trade is measured as the total value of goods and services traded.


b. Composition of trade-At the beginning of the last century the percentage of primary products in the total traded goods was maximum. Later manufactured goods dominated and at present service, the sector is showing a rising trend.


c. The direction of trade- During the second half of the 20th century the world trade pattern underwent in a drastic change. The developing countries like India and China have started competing with developed countries.


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