Open
market foreign market foreign relation foreign trade foreign
It is a basic concept about income
that money always is in a rotation from one person to another in the form of
income & expenditure. There is lot of activity like saving, tax, government
exp, investment and import or export, if we add these figure then we are able to
find out our National Income. This is a close market because all the thing or business
happens in a country between different – 2 sector like House-hold, Business
sector, Government, Capital market or Bank etc. In current time frame, all the
market in the world is open for trade and our different - 2 sectors make a
trade with out-side according to the requirement.
Foreign Relationship – in current situation, all economic
are open for trade and make a business with each other because no one market is
complete in all aspects so that to complete our basic need, they go for the
foreign trade or foreign business or international trade. For example –
 |
| foreign market foreign relation foreign trade |
ü
House-hold
demand lot of thing & buy some things from foreign market,
ü
A
business men also do business with foreign company & also support each
other,
ü
Capital
market also opens their branch in different country & also makes an easy trade.
They also help in foreign payment & money transfer.
ü
Government
also make a relationship with other country like food supply, technology
improvement, R&D, space and any natural disaster or other types of help.
So, we can say that in current time
frame, Every economic have the capability and capacity to produce the different
things but no economic will be able to produce all the things so it’s become necessity
to go for a international trade or foreign trade.
