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Details About CBSE Class 11 Commerce Business Studies Internal Trade

CBSE Class 11 Commerce Business Studies Internal Trade : CBSE Class 11 Commerce Business Studies Internal Trade Study materials available in pdf format in this article. Cakart team members gave complete information about CBSE Class 11 Commerce Business Studies Internal Trade here check the information and read well.

Details About CBSE Class 11 Commerce Business Studies Internal Trade

CBSE Class 11 Commerce Business Studies Internal Trade : CBSE is one of the goal of the Academic, Training, Innovation and Research unit of Central Board of Secondary Education is to achieve academic excellence by conceptualizing policies and their operational planning to ensure balanced academic activities in the schools affiliated to the Board. The Unit strives to provide Scheme of Studies, curriculum, academic guidelines, textual material, support material, enrichment activities and capacity building programmed. The unit functions according to the broader objectives set in the National Curriculum Framework-2005 and in consonance with various policies and acts passed by the Government of India from time to time.

Details About CBSE Class 11 Commerce Business Studies Internal Trade

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CBSE Class 11 Commerce Business Studies Internal Trade : Business Studies can be taken as an elective subject from a student’s Grade 10 year through to their Grade 12 year. South Africa has many different standards of Education. Some schools vary in the Exam Board, chosen, to educate their students under. The Governmental Department of Education allow for children to write NSC Examinations; this Board is the most widely used in South Africa. Students from private schools write IEB Exams and are taught under IEB-Standards. Lastly, Business Studies can be taken as part of the GCSE, or can be taken as part of a GCE Advanced Level (A-level) course in Schools run under the Cambridge International Examinations Board, providing a British education in South Africa. Cambridge Schools are of the fewest in South Africa. Business Studies includes a range of subjects, which give the student general understanding of the various elements of running a business.

Details About CBSE Class 11 Commerce Business Studies Internal Trade

CBSE Class 11 Commerce Business Studies Internal Trade : International trade is the exchange of capital, goods, and services across international borders or territories. It is the exchange of goods and services among nations of the world. In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has existed throughout history (for example Uttarapatha, Silk Road, Amber Road, scramble for Africa, Atlantic slave trade, salt roads), its economic, social, and political importance has been on the rise in recent centuries

Details About CBSE Class 11 Commerce Business Studies Internal Trade

CBSE Class 11 Commerce Business Studies Internal Trade : Trading globally gives consumers and countries the opportunity to be exposed to new markets and products. Almost every kind of product can be found on the international market: food, clothes, spare parts, oil, jewellery, wine, stocks, currencies and water. Services are also traded: tourism, banking, consulting and transportation. A product that is sold to the global market is an export, and a product that is bought from the global market is an import. Imports and exports are accounted for in a country’s current account in the balance of payments.

Industrialization, advanced technology, including transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system. Increasing international trade is crucial to the continuance of globalization. Without international trade, nations would be limited to the goods and services produced within their own borders. International trade is, in principle, not different from domestic trade as the motivation and the behavior of parties involved in a trade do not change fundamentally regardless of whether trade is across a border or not. The main difference is 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. Trade in goods and services can serve as a substitute for trade in factors of production. Instead of importing a factor of production, a country can import goods that make intensive use of that factor of production and thus embody it. An example is the import of labor-intensive goods by the United States from China. Instead of importing Chinese labor, the United States imports goods that were produced with Chinese labor. One report in 2010 suggested that international trade was increased when a country hosted a network of immigrants, but the trade effect was weakened when the immigrants became assimilated into their new country.

Details About CBSE Class 11 Commerce Business Studies Internal Trade

CBSE Class 11 Commerce Business Studies Internal Trade : Download CBSE Class 11 Commerce Business Studies Internal Trade study material in PDF format. We  provides solved papers, board question papers, revision notes and NCERT solutions for CBSE Class 11 Commerce Business Studies Internal Trade. The topics included Service Rendered by a wholesaler and a retailer, Types of retail-trade-Itinerant and small scale fixed and Shops.

Concept includes meaning and features

Unit 9: Internal Trade

Service Rendered by a wholesaler and a retailer

Types of retail-trade-Itinerant and small scale fixed

Shops

Large scale retailers-Departmental stores, chain stores, mail order business.

Concept of automatic vending machine.

Chambers of Commerce and Industry: Basic Functions

Main documents used in internal trade: Performa invoice, invoice, debit note, credit note. Lorry receipt (LR) and Railways Receipt (RR).

Terms of Trade: Cash on Delivery (COD), Free on Board (FOB), Cost, Insurance and Freight (CIF), Errors and Omissions Excepted (E&OE).

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Details About CBSE Class 11 Commerce Business Studies Internal Trade

CBSE Class 11 Commerce Business Studies Internal Trade : The topic of international trade, the views of economists tend to differ from those of the general public. There are three principal differences. First, many non economists believe that it is more advantageous to trade with other members of one’s nation or ethnic group than with outsiders. Economists see all forms of trade as equally advantageous. Second, many non economists believe that exports are better than imports for the economy. Economists believe that all trade is good for the economy. Third, many non economists believe that a country’s balance of trade is governed by the “competitiveness” of its wage rates, tariffs, and other factors. Economists believe that the balance of trade is governed by many factors, including the above, but also including differences in national saving and investment.

The non economic views of trade all seem to stem from a common root: the tendency for human beings to emphasize tribal rivalries. For most people, viewing trade as a rivalry is as instinctive as rooting for their national team in Olympic basketball.

To economists, Olympic basketball is not an appropriate analogy for international trade. Instead, we see international trade as analogous to a production technique. Opening up to trade is equivalent to adopting a more efficient technology. International trade enhances efficiency by allocating resources to increase the amount produced for a given level of effort. Classical liberals, such as Richard Cobden, believed that free trade could bring about world peace by substituting commercial relationships among individuals for competitive relationships between states.

History of Trade Theory

David Ricardo developed and published one of the first theories of international trade in 1817. “England,” he wrote,may be so circumstanced, that to produce the cloth may require the labor of 100 men for one year; and if she attempted to make the wine, it might require the labor of 120 men for the same time….

To produce the wine in Portugal, might require only the labor of 80 men for one year, and to produce the cloth in the same country, might require the labor of 90 men for the same time. It would therefore be advantageous for her to export wine in exchange for cloth. This exchange might even take place, notwithstanding that the commodity imported by Portugal could be produced there with less labor than in England.

If a painter takes twenty hours to paint a house, and a surgeon could do the job in fifteen hours, it still makes sense for the surgeon to hire the painter. The surgeon can earn enough money in a few hours of surgery to pay for the entire house-painting job. We say that the surgeon’s comparative advantage is in doing surgery, while the painter’s comparative advantage is in painting houses. Ricardo’s theory of comparative advantage explains why a surgeon will hire a house painter and why a lawyer will hire a secretary.

The opportunity to trade with the painter enables the surgeon to paint her house by doing a few hours of surgery. Similarly, international trade enables one country to obtain cloth more cheaply by specializing in the production of wine and trading for cloth, rather than producing both goods for itself.

What determines the pattern of specialization and trade? In the 1920s, Eli Heckscher and Bertil Ohlin offered one theory, called the factor proportions model. The idea is that a country with a high ratio of labor to capital will tend to export goods that are labor-intensive, and vice versa.

The Ricardo and Heckscher-Ohlin theories tend to predict clear patterns of specialization in trade. A country will focus on one type of industry for exports and another type of industry for imports. In fact, the types of industries in which a country exports and the types in which it imports are not dramatically different. This fact has led to the emphasis on another theory of trade, developed by Paul Krugman and others. The idea is that patterns of specialization develop almost by accident and that these patterns persist because of positive feedback. This is known as the increasing-returns model of international trade. “Increasing returns” means that the more of something you produce, the more efficient you get at producing it.

Details About CBSE Class 11 Commerce Business Studies Internal Trade

Important Note – Preparing for XI & XII Commerce?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  

Cakart.in provides India’s top Class 11 Commerce  faculty video classes – online & in Pen Drive/ DVD – at very cost effective rates. Get Class 11 Commerce  Video classes from www.cakart.in  to do a great preparation for primary Student.

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