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MANAGERIAL ECONOMICS II
HISTORY
The classical theory was first developed by Adam Smith in his
famous book The Wealth of Nations, published in 1776. Many other economists of that and subsequent decades made important Ricardo, Robert Torrens, and John Stuart Mill. contributions to this theory. These economists include David contributions to international trade theory there are other reasons for studying the classical theory. First, the assumptions of the today. In particular, they help us to understand the basis for a developed and a developing country. Second, this theory explains yet American goods can still compete in world markets. Finally, it the international specialization of production. model are suggestive of certain real-world situations that exist mutually beneficial trading relationship that can occur between a how wages can be high in a country like the United States and illustrates, perhaps better than any other theory, the gains from Ricardos
MANAGERIAL ECONOMICS II
MANAGERIAL ECONOMICS II
MANAGERIAL ECONOMICS II
MANAGERIAL ECONOMICS II
It has been seen that the country with high and efficient market. transportation As most of transact the more in international international
transactions depend upon transportation because of the vast distance between two countries. The name of our theory is THE THEORY OF TRASPORTO. The trasporto is derived from Italian word which means transportation. This theory suggests that every country should adopt effective transportation system. The main aim of taking this theory is to promote transportation transportation system system of plays every an country, role as in significant
international trade. In earlier years it was believed that the real wealth and richness of the nation is based on the quantity of the gold in the nation. However according to THEORY OF TRASPORTO, the real wealth and
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richness of the country is the effective transportation system. As the country with poor transportation facility will face difficulty in transacting with other countries. Features of theory are: It leads to Economic development. Proper delivery of goods. It generates employment opportunities. Good relations with other countries. Reduces the cost of transportation. Availability of goods. Specliazation.
MANAGERIAL ECONOMICS II
MANAGERIAL ECONOMICS II
2. THE
RELATION
OF
TRANSPORTATION
TO
MANAGERIAL ECONOMICS II
According to us, one should keep an eye on the competition and price fluctuation of transport industry in this way if there is any change the person will not be badly affected and could manage his deals properly.
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the number of duties and taxes has been decreased so there is smooth trade. According to us, one should maintain good relation with the government of a country as they have the power to import number of duties and taxes which will not be favorable for our business.
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MANAGERIAL ECONOMICS II
CONCLUSION
As per our theory every country must have effective transportation while dealing in international trade. Country should select the proper location of towns and cities while dealing in goods. Importer and exporter should maintain good relation with the government of a country as they have the power to import number of duties and taxes which will not be favorable for our business. Trader should have proper ware housing facilities
where he is storing his goods so that the rent and other expenses that are to be incurred are reduced and he should go for cheap and reliable modes of transport.
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