Chapter+4+outline

__The Nature of International Trade__ International trade - consists of all business activities conducted between individuals, companies, and government from different countries.

international trade can occur between one nation and another nation. For an example when a company from Norway trades with a company from Yemen, both countries are conducting inetrnational trade.

Business export the extra products and supplies. Needs are met by importing. Much of international trade can be described by using two terms: 1.imports 2.Exports

Imports - are goods and services that people in one country buy from people on another country.

Exports - are goods and services that people in country sell to people in another country.

The same pattern of buying and selling imports holds true for exports.

International trade provieds more than just physical goods. Services are also traded between countries.