Meaning of International Trade - SS3 Economics Past Questions and Answers - page 1

International trade refers to the exchange of goods and services between countries, with the aim of increasing economic activity and improving living standards.

International trade allows countries to specialize in producing goods and services that they can produce more efficiently and cost-effectively, and to access products that they cannot produce themselves. Through international trade, countries can expand their markets, increase competition, and take advantage of economies of scale.