Name Saraswati Singh Sumit Singh Vikram Singh Shivsagar Varma Pooja Vidhate Anil Vishvkarma Virendra Vishvkarma

Ravi Yadav

Roll No.
46 47 48 49 50 51 52 53

ACKNOWLEDGEMENT
I would like to acknowledge and extend my heartfelt gratitude to the following people who have made the completion of this Project possible: Miss Malti Singh & , our Economic professor for mentoring and guiding this project till its completion.
The members of our group for contributing their hard work and dedication to the project.

MEANING
International trade
Trade policy Trade barrier

Free trade
Free trade refers to the interchange of commodities across political boundaries without restrictions such as tariffs quotas or exchange controls.

Arguments for free trade

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15.

Distribution of resources Standard of leaving Variety of goods Specialization with expansion Economies of scale Efficient utilization Foreign competition Surplus production Diffusion of technologies Flow of revolutionary ideas Higher saving Greater investment Level of productivity Economic growth Socio-political benefits

Protectionism
Protectionism refers to the

fostering of domestic industrial or agricultural production by means of import tariffs or other legal obstacles to the movement of goods across political boundaries

Arguments for protection

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15.

Infant industries Current deficits Employment opportunities National securities Bargaining Dumping Subsidizing Diversification Inefficient firms Terms of trade Cultural identity Environmental studies Governments revenue Curtails exports Beggar-my-neighbour policy

Bibliography
Books
Managerial economic by Rajan Gupta

Web-Site
www.google.com