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Ünite 1: Introduction To International Trade — Boşluk Doldurma

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This field deals with financial transactions, foreign exchange markets, exchange rate systems, international payments, investment flows, and the .

This field deals with financial transactions, foreign exchange markets, exchange rate systems, international payments, investment flows, and the balance of payments.

The balance of trade is the difference between total exports and total imports.

A trade deficit occurs when imports exceed exports, while a trade surplus occurs when exports exceed imports.

The terms of trade measure the ratio of a nation's export price index to its import price index, multiplied by one hundred to be expressed as a percentage.

The pattern of trade refers to the specific composition of imported and exported commodities of each nation.

Due to positive economies of scale in the logistics sector, these costs have declined, turning many historically non-traded goods into traded goods.

These restrictions are broadly classified into tariffs and non-tariff restrictions.

Non-tariff restrictions include import quotas, technical and administrative regulations, voluntary export restraints (VERs), export subsidies, dumping, domestic content requirements, and public procurement provisions.

Under a flexible exchange rate system, the exchange rate is determined by market supply and demand, where a fall in currency value is called currency depreciation and a rise is called currency appreciation.

Under a fixed exchange rate system, the central bank maintains the rate, and any official adjustments are termed devaluation (lowering the currency value) or revaluation (raising the currency value).

The global economy is undergoing a massive transformation driven by the digital economy, which incorporates all economic processes, transactions, and activities built on digital technologies.

Four main instruments drive the digital economy's impact on international trade: the Internet of Things (IoT), Artificial Intelligence (AI), 3D Printing, and Blockchain.

3D Printing, or Additive Manufacturing, builds three-dimensional objects layer-by-layer using plastics and metals, keeping the unit cost of production constant regardless of the volume.