Question

In 5-6 sentences, explain international trade. Be sure to discuss imports, exports, absolute advantage, comparative advantage, balance of trade, and balance of payments in your response.

Answer 1

too put it simply, international trade is an act of exchanging economic products through the activities called imports ( buying a product from other country) and export (selling product to another country).

The amount of total import and export will affect the Balance of trade of the country, which is a difference of the amount of that country's import and export

in an international trade some countries can produce a specific product more efficiently than other products in that country , which called and comparative advantage, and more efficiently than other countries, which called absolute advantages

hope this helps