International economics theory to real world issues - Assignment ExampleIt looks comprehensively at the issues plaguing international trade and its promise of increasing wealth for countries.International economics concerns itself with the effects on economic activity of global differences in productive resources and consumer preferences or tastes and the international institutions that affect them. The aspect of international economics seeks to explain the patterns and results of transactions and interactions between inhabitants in different countries. The aspect of international economics includes international trade, migration, and investment. International trade being one of the key pillars of international economics is supposed to be a voluntary exchange occurring with all the participating countries expecting to gain. Free trade increases access to goods and services that may be lacking in some countries (Enderwick 222). For this reason, in international economic, trade bridges the differences in terms of goods and services.
