1. Specialization
2. It leads the domestic firm achieving economic of scale
3. Variance of product choice&nb...
Reasons of International Trade
1. On driving course of international trade is natural benefit between two countries.
2. Variations in the cost of production constitute incentive for international trade.
3. Local production factor is another reason of international...
International Trade
In simple sense international trade means the exchange of goods and services approach the international borders.
In broad sense, international trade deals with the issues related to the exchange of goods and services, capital and factors of productions...
The Causes of inflation
There are various causes of inflation. The most concerning causes are –
1. Increase in cost of labor that are not liked to increase in labor productivity.
2. Increase in the cost of raw materials which put come about different stages of the economic...
Structural Changes in major economics
By structural change we mean how the variance sectors in an economy have changed, it gives some broad definitions of these sectors.
Primary Sector
Secondary Sector
Tertiary Sector
Primary Sector: Primary sector includes activities directly related...
Factors to be consider in compering enter country GDP
1. Large country trend to have hire total GDP. Therefore a better cooperation is GDP per head per capital.
2. GDP needs to be consider in real terms rather than nominal terms
3. GDP needs to be converted into a common currency (US...
