Domestic vs International Trade Free Essays

Domestic Vs International Trade Mohammad Tariqul Islam Domestic Trade: Trade among parties in the same country. Domestic trade is the exchange of goods, services, or both within the confines of a national territory. They are always aimed at a single market. We will write a custom essay sample on Domestic vs International Trade or any similar topic only for you Order Now It always deal with only one set of competitive, economic, and market issues. The trading is always with a single set of customers all the time, though the company may have several segments in a market. Finally local trade or home trade or Domestic trade may be sub-divided into Wholesale trade, and Retail trade. International Trade: Trade among parties residing in different countries. International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history, its economic, social, and political importance has been on the rise in recent centuries. Some difference between International trade and local or domestic trade 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  labour  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. Advantages and Disadvantages of international Trade Advantage of international trade †¢ Monetary gains to the respective country indulging in trade. †¢ More variety of goods available for consumers. †¢ Better quality of goods. Competition both at the international level as well as local level. †¢ Closer  ties  between nations. †¢ More exchange of technical know-how. †¢ Local producers will try to improve the quality of their products. †¢ Increase in  employment  locally. Disadvantage of international trade †¢ Local production may suffer †¢ Local industries may be overshadowed by their international competitors †¢ Rich countries may influence political matters in other countries and gain control over weaker nations. †¢ Ideological differences may emerge between nations with regard to the procedures in trade practices. Read also Recording General Fund Operating Budget and Operating Transactions International trade is beneficial to world economy. It adds to the money coffers of the world at large. Every country can benefit monetarily if it is able to dispose off its surplus goods after meeting the requirements of the local people. Key differences: †¢ 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. †¢ Within a country labour and capital moves freely to get maximum returns. These factors of production do not move with such freedom among different countries due to differences in culture, climate, language, customs and political restrictions imposed by regulatory authorities. This immobility gives rise to wage and interest differentials among countries. †¢ Different currency system introduces additional cost and risk in international trade as the value of currencies is constantly subject to variations. As long distances involved transport costs for international transactions are higher than for domestic trades. Home trade is called domestic trade in some countries. These are the differences as seen by me. 1. For home trades, payments could be made in home currency only. Foreign trades are to be paid invariably in convertible currencies. 2. Home trades generally have no restrictions of movement within the country. In international trade, there are restrictions as to movement of specific goods to specified countries. 3. Home trades have taxes levied by the Government and local bodies. International trades have levies called customs duties. These invariably go to the Federal Government. 4. Documents for domestic trades are comparatively simple and easy to understand and follow. Foreign trades have a different set of documents which must be filed in every case. 5. Insurance of consignments sent on foreign trade are compulsory; in home trade it is optional. 6. Usually, foreign trades are preceded by payment or promises of payment made by international foreign exchange traders (also called Letters of Credit. In domestic trades, payments are realised usually after the trade is executed. Depending on the credit rating of the parties concerned, even a simple promise is not taken. Letters of Credit in domestic trades is not common but not ruled out. 7. Credibility of parties can be got verified in foreign trades through the trade representatives of the countries involved in the transaction. 8. On receipt of consignment at a foreign country, the documents are handed over t o the buyers only after payment is realised. Thereafter, the Banks concerned remit the payments to the sellers through normal international banking channels. In respect of domestic trades, bankers may or may not be the intermediaries. Payments can be directly sent to the sellers by the buying party. 9. Under the United Nation’s charter, goods prohibited for specific countries cannot be sent to them by member countries. Penalties extending to boycott of trade with that country may follow. In domestic trades, such prohibitions do not exist. (Example: selling atomic energy raw materials to Iran, Iraq etc. 10. International trades are further government by agreements between member countries of General Agreement on Tariffs and Trade. Domestic or home trades are not subject to such agreements. An international business is a business whose activities are carried out across national borders. This differs from a domestic business because a domestic business is a business whose activities are carried out within the borders of its geographical location. A domestic company is one that confines its activities to the local market, be it city, state, or the ountry it is in. It deals, generally, with one currency, local customs and cultures, business laws of commerce, taxes and products and services of a local nature. The international company, on the other hand deals with businesses and governments in one or more foreign countries and is subject to treaties, tariffs. currency rates of exchange, politics, cultural differences, taxes, fees, and penalties of each country it is doing business in. It may also be conducting business in it’s home country, but the emphasis is on trading in the international marketplace. Differences between Domestic and International Trade International Trade: The exchange of goods and services between countries is called International Trade. Inter-Regional Trade: The exchange of goods and services with in a country is called Inter-regional Trade. Differences between International and Inter-regional Trade and need for a separate theory: A number of things which make difference between international and inter-regional are given as under. We can understand from these reasons that it gives rise to a separate theory of international trade. . Factor Mobility: Labour and capital as factor of production do not move freely from one country to another country as they do with in the same country. Thus labour and capital are regarded as immobile between countries while they are perfectly mobile within a country. Adam Smith said â€Å"Man is of all forms of luggage, the most difficult to transport†. Differences in cost of production can not be removed by moving and money. The result is the movement of goods. On the contrary between regions with in the same olitical boundaries, people distribute themselves more or less according to the opportunities. Real wages and standard of living tend to seek a common level though they are not wholly uniform as between national these differences continue to persist and check population movements. Capital also does not move freely from one country to another country. 2. Different Currencies: Each country has a different currency. Buying and selling between nations give rise to complications absent in internal trade. This hampers smooth flow of trade as between one country and another country. A large number of foreign exchange problems arise in number of foreign trade which are non-existent in inter-regional trade. 3. Different National Policies: Different needs lead countries to pursue divergent national policies and not only with respect to foreign exchange rates. National Policies differ in a wide matter of domestic matters affecting international economic relations, wages, prices, competition, investment, business regulation etc and often involve interference directly in international economic intercourse in tarrifs, exchange controls, non-tarrif barriers and the like. . Different Political Circumstances: Mostly countries differ in political circumstances. In inter-regional trade, trade takes place among same people. But international trade takes place among people of different cultures, habits and languages. These cultural distinctions between markets, important in the absence of different national measures have led political scientists to take look at the nature of countries. 5. Difference in National Resources: Different countries are endowed with different type of natural resources. They tend to specialise, in the production of those commodities in which they are richly endowed and trade them with others where such resources are scare. 6. Geographical and climatic differences: Every country cannot produce and commodities due to geographical and climatic conditions, except at possibly prohibitive costs. Countries having climatic and geographical advantage specialise in the production of particular commodities and trade them with others. 7. Different Markets: International markets are different in various aspects. Even the system of weights and measures and pattern and styles in machinery and equipment differ from country to country. Goods which are traded within regions may not sold in other countries. This is why in great many cases products to be sold in foreign countries are especially designed to confirm to the national characteristics of that country. 8. Problem of Balance of Payments: The problem of balance of payments is perpetual in international trade while regions with in a country have no such problem. 9. Restrictions on Trade: Trade between different countries is not free. There are restrictions imposed by custom duties, exchange restrictions, fixed quotas or other tarrif barriers. 10. Ignorance: Differences in culture, language and religion stand in the way of free communication between different countries. In inter-regional trade labour and capital freely moves about. These factors too make internal trade different from international trade. 11. Transport and Insurance Costs: The cost of transport and insurance also check the free international trade. The greater the distance between the two countries the greater the cost and insurances. How to cite Domestic vs International Trade, Papers

A Legacy of Abandoment Essay Example For Students

A Legacy of Abandoment Essay The father and daughter bond seems to be the sweetest love I have never known, but my dad was a missing part of my life. My parents divorced when I was thirteen years old. My father was present in my life before the divorce; however, over the years he was slowly disappearing, fading away from grey to black. I longed for something I never possessed a father who loved me, but he is not the father he promised he would always be. Instead he became a man who did not care, an absent father. Being abandoned throughout my teenage years gradually tore my heart apart, but now I have hope in a future I will control. The eyes that once looked at me as his beloved daughter have filled with arrogance, the arms that once held me close have gone limp, the love that was once undying has died. It is as if I had never known my dad. He would call and say, Nina, I will see you tomorrow. But tomorrow turned to days, days turned to weeks, weeks turned to months. He came in and out of my life as he pleased, and eventually left altogether. I went through a cycle of emotions: pain and sadness when he was gone, peace and satisfaction when he was back. He was super-dad  for a couple days, but then he would leave again. I would be overjoyed when he would come see me. He would promise that he would never abandon me again. Each time he came back, he gave me hope that he had changed into the dad I always dreamed of. But that dream quickly died each time he left again. He eventually became that man I only saw in pictures, or rather, he was that man I only saw in pictures with me. Yes, he is my biological father, but I do not consider him as my dad. Though he has put me through a lot of pain, I have found the light in all the darkness. I have healed from his emotional manipulation. It is a shame that my father never got to see the woman I have become. For the longest time I hated my dad. However, over time I began to form a different impression. Would things have really been any better if he were there? It took me awhile to finally admit the hard cold truth: it may have been worse. He was too conceited to have made much of a father out of himself. So I asked myself who that man was that I saw in the pictures. It was just a fleeting image of a shell of a man. The true hero of my childhood has been and will always be my mother. My father has left me a legacy of abandonment that I will one day break. Because of my father, I know what qualities to look for in the man I will one day marry. I hope to never accept someone like my father. When I have children of my own, I refuse to behave as he did. I will love and care for my children because I know what it is like to grow up without one of my parents. I will support my family through the good and the bad times, and I will provide for them both emotionally and physically. So thank you Papi. I have learned from your mistakes.

Project Management Analysis

Questions: 1. Select two theories of motivation. 2. Describe one motivation theory and discuss how this motivation theory could be applied in Fisher Paykel Healthcare. 3. Describe the alternative motivation theory and discuss how this second motivation theory could be applied in the other of your organisations. Answers: 1. Two theories of motivation The two theories that are selected are Maslows Theory of Hierarchical Needs and Herzbergs Theory of Two Factor. 2. Description of Maslows Need Hierarchy Theory and its application in Fisher Paykel Healthcare As per the theory, people get motivated by the needs, which are unsatisfied. Such needs include Physiological needs, Safety, Social, Self Esteem, Self Actualization needs in the ascending hierarchy. A person can make advancement to the next need level if the corresponding lower level need is fulfilled. Fisher Paykel Healthcare being the manufacturer and marketer of respiratory care systems and products are dedicated for sleep obstruction disorder treatments. The management people and the employees are satisfied as their physiological and safety needs are fulfilled as per the companys progress towards prosperity (Ferris et al. 2013). They are now motivated to work better to get their social, recognition and self-actualization needs fulfilled through the acceptance of their contributions among the people around the world. 3. Description of Herzbergs Two Factor Theory and its application in other organizations The theory says about Motivating factors which provides satisfaction in positive level in the people whereas the hygiene factors does not make motivation if its present but make result in the demotivation if becomes absent. In case of Coca Cola company, starting from managers to other employees, challenging work, added responsibilities and recognition has provided them positive satisfaction resulting to motivation in better work (Heinrichs, Oser and Lovat 2013). On the other hand, if those employees and the managers are not given the security of their job, status or salary in proper time then they will be demotivated in their work resulting to be less effective and productive. References Ferris, D.L., Johnson, R.E., Rosen, C.C., Djurdjevic, E., Chang, C.H.D. and Tan, J.A., 2013. When is success not satisfying? Integrating regulatory focus and approach/avoidance motivation theories to explain the relation between core self-evaluation and job satisfaction.Journal of Applied Psychology,98(2), p.342. Heinrichs, K., Oser, F. and Lovat, T. eds., 2013.Handbook of moral motivation: theories, models, applications(Vol. 1). Springer Science Business Media.

Using The Law To Witness Essays - Christian Soteriology,

Using The Law To Witness Today I am going to share with you something that I have found to be the most important part of how we witness to other people. In the late 1970s, a man named Ray Comfort began to explore Church growth records. He found that 80 to 90 percent of those making a decision for Christ are falling away from the faith. A major denomination in the United States reported to have 11,500 churches in the U.S. This same denomination reported to have obtained 294,000 decisions for Christ in 1991. This same church could only find 14,000 of those people in fellowship today. Modern evangelism is preaching the benefits of salvation, with out using the law to show the sinner why they are lost with out God. These statistics are the normal results of modern evangelism. The way that we present the Gospel determines the kind of response the person will make. We need to present the Gospel with the law in mind. Here is an illustration that Ray Comfort uses in his Book, Hells best kept secret: Two men are seated in a plane. A stewardess gives the first man a parachute and tells him that it will improve his flight. The passenger is a little skeptical, but after hearing the persuasion of the stewardess, he decides that what she says is true. After he puts it on, he notices the uncomfortable weight of the parachute, and that it makes it uncomfortable to sit with it on. Eventually other people in the plane start laughing at him. The passenger decides that it isnt worth it to wear the parachute anymore and he takes it off. He feels that he has been lied to. Another stewardess gives the second man a parachute. She tells him to put it on because at any moment he will be jumping out of the plane. The second passenger gratefully straps the parachute on. He doesn't notice its weight upon his shoulders. All he can think about is that he would die without the parachute. When other passengers laugh at him, he thinks, You won't be laughing when you're falling to the ground! The first person was promised that the parachute would only improve his flight, but he wasnt told why. But the second man was promised that the parachute would save him from would otherwise be the death to come. We can now see that when someone is promised love joy and peace and they do not receive it, they feel like they were lied to. So how can we prevent this from happening. We must use the law when we witness to the unsaved. Psalm 19:7 says The law of the Lord is perfect for converting the soul. You must show each man or woman that they have broken Gods law. Everyone at some time has stolen something, and many people who are not saved use Gods name in vain. Show them that stealing is breaking the ten commandments, and that using Gods name in vain is blasphemy. Therefore, we have all broken the entire Law of the Lord. We must present the consequences of breaking the law. Explain to them that we will all be judged for the sins we have committed. In Romans 7: 7 Paul says I did not know what sin was until the law told me. In Romans 3:19 we see that God says the law will stop the mouth of the sinner. It will stop the sinner from justifying his sin. We have all heard the argument that I am not that bad, or there are plenty of people who are worse than me. When people use these arguments you must show them that we have all broken Gods law, and because of that we are in need of his grace. If you approach a sinner and say Jesus loves you and he died on the cross for your sins, it will offensive because he doesnt think he is a sinner. But if you show him that he has offended God by breaking his law, he will realize that he is a sinner and want to avoid Gods wrath. A great verse to use here is Romans 6:23. Once you have established

Free Essays on Oppression

The Limits to Freedom What is oppression? The word oppression can relate to a wide myriad of situations, as it did in the 1960’s. Oppression is defined by Webster’s Dictionary as the act of oppressing; arbitrary exercise of power or a feeling of being heavily weighed down in mind or body. In the 1960’s it was not just one entity that experienced this need to obtain freedom, but it was many groups. According to Miller, â€Å"Something of value did happen in the sixties. New Voices were heard, new forms of beauty appeared. And most of the large questions raised by that moment of chaotic openness- political questions about the limits of freedom, and cultural questions, too, about the authority of the past and the anarchy of the new- are with us still† (Miller, 8). These â€Å"limits of freedom† explained by Miller are the oppressive standards that were evident in the 1960’s by not only college students, but also by African-Americans, women, the people of Vie tnam, and many other Americans who were exposed to technocracy, this era of oppression and its consequences is one of the major themes of this course. Technocracy triggered many of the social movements of the 1960’s that were lead by young adults of this time. Their beliefs arose from their opposition toward the violence of the Vietnam War, which unionized them. They felt that they were being oppressed, because people’s lives were in danger. The students were against society’s intentions of maintaining a status quo, these individuals tried to break the barriers of society and develop their own minds to change themselves and the world around them from being exploited. According to Roszak, â€Å"When any system of politics devours the surrounding culture, we have totalitarianism, the attempt to bring the whole of life under authoritarian control. We are bitterly familiar with totalitarian politics the from of brutal regimes which achieve their integration b... Free Essays on Oppression Free Essays on Oppression The Limits to Freedom What is oppression? The word oppression can relate to a wide myriad of situations, as it did in the 1960’s. Oppression is defined by Webster’s Dictionary as the act of oppressing; arbitrary exercise of power or a feeling of being heavily weighed down in mind or body. In the 1960’s it was not just one entity that experienced this need to obtain freedom, but it was many groups. According to Miller, â€Å"Something of value did happen in the sixties. New Voices were heard, new forms of beauty appeared. And most of the large questions raised by that moment of chaotic openness- political questions about the limits of freedom, and cultural questions, too, about the authority of the past and the anarchy of the new- are with us still† (Miller, 8). These â€Å"limits of freedom† explained by Miller are the oppressive standards that were evident in the 1960’s by not only college students, but also by African-Americans, women, the people of Vie tnam, and many other Americans who were exposed to technocracy, this era of oppression and its consequences is one of the major themes of this course. Technocracy triggered many of the social movements of the 1960’s that were lead by young adults of this time. Their beliefs arose from their opposition toward the violence of the Vietnam War, which unionized them. They felt that they were being oppressed, because people’s lives were in danger. The students were against society’s intentions of maintaining a status quo, these individuals tried to break the barriers of society and develop their own minds to change themselves and the world around them from being exploited. According to Roszak, â€Å"When any system of politics devours the surrounding culture, we have totalitarianism, the attempt to bring the whole of life under authoritarian control. We are bitterly familiar with totalitarian politics the from of brutal regimes which achieve their integration b...

E-Commerce Strategies Essay Example | Topics and Well Written Essays - 250 words

E-Commerce Strategies - Essay Example The strategies used are comparable to those used by companies that sell to businesses, having both similarities and differences. Apart from using the above strategies they companies are benefitted because an organization or business can easily locate more customers, the best suppliers and the most suitable business partners across the globe. The shipment is often in large quantities, and heavy machinery may be required to package products into bulks. This is because websites following B2B business model sell their products to intermediate buyers, and then they sell their products to the final customer, which can be any wholesaler’s retail outlet (Haag & Cummings 2013). The IT mechanisms used by both are similar. Payment for both involves transaction systems use non-cash payment including PayPal, Gift Cards, and VISA etc. Security mechanisms make use of SSL (Security Socket Layer) which uses encryption and authentication which prevents large business and thus large companies being part of an external hack or

Eco-tourism Environmentally friendly resort development business plan Essay

Eco-tourism Environmentally friendly resort development business plan - Essay Example is a relatively new trend in the tourism industry, has taken many travelers to various remote corners of the world, exposing them to many diverse wildlife and cultures that have been developing in relative isolation from the modern world, consequently making ecotourism one of the most interesting and therefore fastest growing sectors of the tourism industry (Ibid.). Costa Rica, unlike the other so-called Third World countries which are focusing on rapid urbanization and industrialization, has turned to ecotourism and considered it as its key to its goal of economic development (Dulude, 2000). Despite its relative smallness compared to other countries in Central America, Costa Rica is home to an incredible biodiversity highlighted by scenic beaches, lush rain forests, impressive volcanoes and a very exotic wildlife, with its tourist industry bringing in about one million visitors a year and generating approximately $1 billion annually, making tourism Costa Rica’s second largest income generator after the silicon chip production industry (Ibid.). Further, Costa Rica also has the following features which make it an ideal country for ecotourism, which also rationalize this paper’s overall concept of an eco-friendly resort business in the country, as follows: 1. Rich biodiversity. Costa Rica has an incredible biodiversity that can offer tourists – foreign and local alike – with a glimpse of mountains and volcanoes, as well as beaches and lush green rainforests that are all located within a relatively small region in the country (Garen, 2000). According to Lizano (2000, p17), there are about twenty-four national parks in Costa Rica that are covering its diverse flora and fauna, covering about twenty-one percent of the country’s territory, which includes twenty-eight percent of the country’s Indian reserves. 2. Strategic Location. Costa Rica is situated closely to the United States (US), which makes it ideal and strategic for its tourist industry, giving