Microeconomics - International Trade Term Paper

Microeconomics - International Trade - Term Paper Example International trade has come about due to globalization where boundaries have become nearer and the countries have come closer. This is the age of international trade as everyone is talking about this. It has helped the trade to flourish, bringing people closer with one another. It has opened up new pathways, understood the dynamics of the worldwide markets and emphasized a great deal on how things have shaped up with the passage of time. What international trade does is to expand the markets in such a way that different goods and services become available even though they are not a part of the same territories. Thus imports and exports become stronger and the people feel the urge to buy something which is not of their own lands. They would rather buy a product which is internationally acclaimed for its taste, or durability (Warburton, 2010). However, local products are also sent internationally which essentially makes the entire world a market zone which is free for all the people i n this world. Hence it is a fact that international trade is an important element of the microeconomics debate and will continue to be given the significance that it richly deserves, and more so with the coming in of the globalization regimes. This will be discussed at length within this paper so that an understanding of international trade with regards to microeconomics could be reached upon. International trade helps the countries to invest in goods and services which are of beneficial use. It makes the marketers comprehend where they have to invest in the coming times. The best thing about international trade is that it makes everything accessible and people feel the urge to buy something which they would not have been able to purchase had they still lived there yet with no trade happening on the global front. Thus what is a good thing here is the fact that international