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Trade between two traders is called bilateral trade, while trade involving more than two traders is called multilateral trade. In one modern view, trade exists due to specialization and the division of labor , a predominant form of economic activity in which individuals and groups concentrate on a small aspect of production, but use their ...
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Professional certification, trade certification, or professional designation, often called simply certification or qualification, is a designation earned by a person to assure qualification to perform a job or task.
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Trade can be a key factor in economic development. The prudent use of trade can boost a country's development and create absolute gains for the trading partners involved. Trade has been touted as an important tool in the path to development by prominent economists.
A tradesperson or tradesman/woman is a skilled worker that specialises in a particular trade. Tradespeople (tradesmen/women) usually gain their skills through work experience , on-the-job training , an apprenticeship program or formal education .
A measure of total gains from trade is the sum of consumer surplus and producer profits or, more roughly, the increased output from specialization in production with resulting trade. [8] Gains from trade may also refer to net benefits to a country from lowering barriers to trade such as tariffs on imports. [9]
International trade theory is a sub-field of economics which analyzes the patterns of international trade, its origins, and its welfare implications. International trade policy has been highly controversial since the 18th century. International trade theory and economics itself have developed as means to evaluate the effects of trade policies.