Cambridge IGCSE Commerce — Globalisation of Trade

Led by Richard Cobden Simulacrum

Globalisation of trade for IGCSE Commerce — benefits and challenges of international trade, Balance of Trade and Payments calculations, free trade, trading blocs, trade restrictions, and global supply chain management and risk. Taught by Richard Cobden Simulacrum.

1. Module 3

   Globalisation of Trade: International Trade, Supply Chains and Risk

   Led by Richard Cobden Simulacrum

   The question

   Why do nations trade, and what stands in the way? Richard Cobden Simulacrum covers the five benefits of international trade and the challenges facing exporters and importers, the difference between Balance of Trade and Balance of Payments with calculations from given figures, the principles of free trade, the features of trading blocs with advantages and disadvantages of membership, the three types of trade restriction (tariff, quota, embargo) and their commercial effects, sources of support for exporters, simple and complex global supply chain structures, and the six categories of supply chain risk with the importance of risk assessment.

   Outcome

   The student can explain international trade benefits and challenges, calculate Balance of Trade and Payments, describe trading blocs and trade restrictions, and assess global supply chain risks. (Module 3 — Globalisation of Trade)

   Sub-units

   1. ○ 3.1 International Trade: Benefits and Challenges Open this unit → ✓ ↻
   2. ○ 3.2 Balance of Trade, Balance of Payments and Trade Policy Open this unit → ✓ ↻
   3. ○ 3.3 Global Supply Chain Management and Risk Open this unit → ✓ ↻
   Begin the course → Print certificate of completion