The concept of “service” includes a complex of diverse types of human economic activity, causing the existence of various options for classifications of services. International practice identifies the following 12 service sectors, which in turn include 155 subsectors: commercial services; postal and communication services; construction works and structures; trade services; education services; environmental protection services; […]
Tag: Folk
Classical theories of international trade and their evolution
The centuries-old history of world trade is based on the tangible benefits it brings to the participating countries. During this period, explanations of cause and effect have developed into concrete theories. The general theory of international trade gives an idea of what underlies this benefit from foreign trade or what determines the directions of foreign […]
Economic feasibility of technology export
There are fewer barriers and constraints to the international movement of technology compared to the movement of goods and capital. Therefore, it is easier to carry out external expansion by selling a license abroad than to achieve the development of a new market by exporting products produced with the help of new technology or with […]
Nominal and real exchange rate
The foreign exchange market is a special market in which foreign exchange transactions are carried out, i.e. exchange of currency of one country for the currency of another country at a certain nominal exchange rate. The nominal exchange (exchange) exchange rate is the relative price of the currencies of the two countries, or the currency […]
Methods for ensuring the reliability of international settlements with bills of exchange
The use of bills in international settlements provides certain rights and imposes strict obligations on its participants. International commercial and banking practice has developed a number of ways to increase the reliability of the bill of exchange as a settlement and payment tool, enshrining them with the norms of both international and national legislation. Among […]