Article Writing Homework Help

Create a 10 pages page paper that discusses international trade as the exchange of goods and services across international borders. The present research has identified that international trade is typically more costly than domestic trade. The reason is that a border typically imposes additional costs such as tariffs, time costs due to border delays and costs associated with country differences such as language, the legal system or culture. Another difference between domestic and international trade is that factors of production such as capital and labor are typically more mobile within a country than across countries. Thus international trade is mostly restricted to trade in goods and services, and only to a lesser extent to trade in capital, labor or other factors of production. (Cited from Wikipedia) Then trade in goods and services can serve as a substitute for trade in factors of production. The table obtained from the World Trade Organization in 2010, showed International Trade Statistics-Growth in the volume of world merchandise exports and production 2000-2007. The percentage for world merchandise exports during 2005-2007 was fluctuating, with the highest growth recorded in 2006. Agricultural products started off steadily but suffered a decline in 2007. Fuels and Mining Products were consistent in its growth over that same period. Manufacturers showed its highest growth in 2006, whilst world merchandise production was consistent but showed a marginal increase in 2007. Agriculture was fluctuating similarly to Mining which suffered a nil growth in 2007. Manufacturing was consistent until its marginal increase in 2007. Lastly, the World GDP got a marginal increase over the last two years.