This Exam Covers the Following Topics

1. Introduction to International Trade
   • Definition of Trade
   • Types of Trade: National vs. International
   • Barter System (Historical Perspective)
   • Introduction of Money in Trade
2. History of International Trade
   • Ancient Trade and the Barter System
   • The Silk Route
   • Development of European Commerce (12th-13th Century)
   • European Colonialism and the Slave Trade
   • Industrial Revolution and Its Impact on Trade
   • Post-World War Trade Policies and Organizations
3. Principles of International Trade
   • Specialization in Production
   • Comparative Advantage
   • Complementarity and Transferability in Trade
   • Importance of International Trade in Modern Times
4. Basis of International Trade
   • Differences in National Resources
     • Geological Structure and Its Impact on Trade
     • Distribution of Mineral Resources
     • Climate and Its Influence on Trade
   • Population Factors
     • Cultural Factors and Trade Specialization (e.g., Carpets of Iran, Porcelain from China)
     • Population Size and Its Influence on Internal and External Trade
   • Economic Development Stages and Their Impact on Trade
   • Foreign Investment and Its Role in Boosting Trade
   • Role of Transportation in Expanding Trade
5. Balance of Trade and Payments
   • Definition of Balance of Trade
   • Positive (Favorable) vs. Negative (Unfavorable) Balance of Trade
   • Impact of Balance of Trade on a Nation’s Economy
   • Definition of Balance of Payments
6. Types of International Trade
   • Bilateral Trade
   • Multi-lateral Trade
   • Case for Free Trade (Trade Liberalization)
   • Dumping and Its Consequences
7. World Trade Organization (WTO)
   • Origins in General Agreement for Tariffs and Trade (GATT)
   • Role and Functions of the WTO
   • Criticisms of WTO Policies (Impact on Developing Countries, Environment, Workers’ Rights)
   • Membership of WTO and Key Players
8. Regional Trade Blocs
   • Purpose and Role of Regional Trade Blocs
   • Examples of Trade Blocs (e.g., EU, NAFTA)
   • Impact on Global Trade and Intra-Regional Trade
9. Challenges and Concerns Related to International Trade
   • Overdependence on Other Countries
   • Uneven Development Levels
   • Exploitation and Rivalries Leading to Conflict
   • Impact on the Environment and Natural Resources
10. Gateways of International Trade
    • Role of Ports as Key Trade Gateways
    • Importance of Ports Based on Cargo and Ship Volume
    • Classification of Ports:
      • Industrial Ports (e.g., bulk cargo like grain, oil)
      • Commercial Ports (e.g., general cargo, passenger traffic)
      • Comprehensive Ports (handling both bulk and general cargo)
      • Inland Ports (linked to the sea via rivers/canals, e.g., Kolkata)
      • Out Ports (deepwater ports supporting larger vessels)
      • Oil Ports (tanker and refinery ports)
      • Ports of Call (refueling stations on sea routes, e.g., Aden)
      • Packet Stations (handling passengers and mail)
      • Entrepot Ports (collection centers for import/export, e.g., Singapore)
      • Naval Ports (strategic military ports)
11. Environmental and Social Impacts of International Trade
    • Overexploitation of Natural Resources
    • Depletion of Marine Life and Forests
    • Impact on Worker Rights, Child Labor, and the Global Workforce
    • Pollution and the Role of Multinational Corporations in Trade

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