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Finance & Accounting
Pages 7 (1757 words)
Name Course Professor Surname International business- imports/exports Introduction International business can be blamed for the big gap between the developed and developing nations. International trade refers to trade between two countries who have agreed to burn trade regulations with regards to the products traded…
Geographic positioning of the countries in the globe causes production of agricultural products and mineral related product to vary depending on the country. Countries located in the equatorial highlands in America and Africa highly depend on agriculture while countries located in the Arabian deserts produce oil products. The difference in production between the countries results in the need for trade (Morrissey 699). The common character that signifies third world nations comprise of agriculture dependent nations. The developed nations deal with service industry and trade in machines. The trade between developed and undeveloped nation enables the developed nations to obtain crucial machines and services that they do not produce. The developed nations purchase agricultural products in their raw form which are later processed and resold in the country or to other countries. There is a significant difference in the commodities traded in the international market. Raw agricultural produce fetches the country less income compared to finished goods and services sold by the developed nations. The big gap between the commodities traded is reflected in the balance of trade. ...
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