International Trade Theory
Macroeconomics
Richard Stockton University
The United States has emerged as a leading competitor within the international trade. The
basic fundamentals of the theory of international trade is that countries should specialize and
exchange within an industry they are best at producing products with the least opportunity cost.
The purpose of international trade is supply goods and services to countries because no one
country can produce everything it needs by itself. For example, Bangladesh is able to produce
clothing at a cheaper cost than most countries and as a result, they have specialized in
manufacturing clothing for leading companies such as Wall-mart in the United States.
International trade has greatly contributed to success by creating opportunities for countries to
expand consumption and create more jobs within their economies. Personally, international
trades should be mandated because they strengthen a country by enabling them to produce and
sell a greater amount of products in the global market. In this following essay, I will discuss
