International trade is the exchange of goods and services between countries. It allows nations to specialize based on comparative advantage, boosting global efficiency and economic growth. Key aspects include the balance of trade, trade barriers (like tariffs and quotas), and the debate between free trade and protectionism. Trade is governed by global (e.g., WTO) and regional agreements. While trade promotes development and access to diverse products, it can also cause job losses and inequality. Ongoing issues include trade wars, supply chain disruptions, and sustainability concerns.
- Teacher: Elikana Makoba