International Trade
Trade occurs on two levels: international and national. International trade involves the exchange of goods and services between countries across their borders. Countries engage in trade to obtain goods they cannot produce themselves or acquire at a lower cost elsewhere.
In ancient times, trade began with the barter system, where goods were directly exchanged. For example, a potter might trade pots for the services of a plumber. As societies evolved, rare objects like flintstones, shells, and precious metals such as copper, silver, and gold served as forms of currency. These items held high intrinsic value and facilitated trade by serving as mediums of exchange.
Chapter 8 International Trade| Class 12 Geography Notes
Class 12 Geography Notes: International Trade is an important topic in CBSE Class 12 Geography. These notes are created by subject experts to help students understand the topic easily. These notes cover important concepts like the significance of international trade, different types of trade, and concerns related to it.
With these notes, students can prepare well for their exams and improve their understanding of the subject.