00:01
Okay, so we will understand international trade.
00:06
So we will understand it through the examples.
00:16
So first of all, let's frame a country, country i, okay? and there is country c.
00:30
Now let's suppose the country i is willing to produce softwares.
00:37
Okay.
00:40
However, country i is having shot of software engineers.
00:44
Engineers.
00:45
Now what will happen country c so so country c is having enough of professionals having skills in software engineering okay so now country c will be providing services in relation to software engineering okay or we can say softfeit development however country i will be paying currency foreign currency payment to country c in against the services of software development.
01:27
So this is what we have international trade and what is international means from country to country.
01:34
However, the world trade is extended form of international trade.
01:41
So we have an organization which is known as world trade organization.
01:49
Now world trade organization, what it actually does, it formulates the policies which will facilitate the practice of trade of goods and services across the nations...