Global Trade

Trade of readymade garments, Export markets can avail, by study of colours, shapes, sizes and prices that prevail.

UDYAM SHASTRA- Chapter 07, Verse 23    

Key Objectives:

Reading this module and doing the students activities will enable the students to:

  • Define import and export

  • Learn that different countries use different currencies.

  • Understand the aspects of global trade.

Enterprise Concepts

Import.: Imports are goods and services that originate in other countries and are bought by people in our country.

Export.: Exports are goods and services produced in our country that are purchased by people from other countries.

Trade.: Trade is the exchange of goods and services between people.

Domestic trade.: Trade within the country is called domestic trade.

Global trade.: Trade with other countries is called global trade.

Enterprise  Skills:

The student 'Activities' in each lesson are designed to clarify the ENTERPRISE CONCEPTS of the lesson and develop some ENTERPRISE SKILLS (E.SKILLS). The E.SKILLS included in a lesson may not be exhaustive, but are indicative.

E.SKILLS stated in a lesson elsewhere may also get addressed through the activities of a particular lesson.

Some useful E.SKILLS are dealt with below:

Relate new information to prior knowledge: An entrepreneur is an avid learner. Everyday he reads, sees and hears new things . In order to learn from these, he should correlate them to his prior knowledge and experience. This will help him to expand his plans to new perspectives..

Perseverance.: The refusal to quit willingness to keep goals in sight and work towards them, despite any obstacles is Perseverance.


Activity 1 - Foreign made, game.

Instructions for the Activity

Make a list of items, which you are using, like pens, calculator etc. and which are imported from other countries. Look around your place without disturbing others to locate other items that have been imported from other countries. These could include items like marker pen, stapler, etc. Also list the items that you use at home or office that are imported. These could include TV, remote control, camera etc. Turn to Worksheet of Activity "Foreign Made, Game". You should identify or name to your best knowledge the country from which these items have been imported. You should also write in the ?remark? column why you feel this item was imported from that country. You may like to use the leading questions given below to shape your remarks. The remarks may be based on one or more of the leading questions.

? Is this product a specialty of that country?

? Is it that, the price of the imported product is very low compared to local products?

? Is it that, the quality of the product is very high?

? Is it that, the people of that country have some special skill to make the product?

? Is it that, some natural resources are only found in that country?

? Is it because, that country has necessary level of technology to manufacture the product?

? Is it that, there is no competition for that product in our country?

? Is it that, country has got much better distribution system in our country than what local enterprises can provide?