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Organization of trade

November 7, 2008 Written by nicolae

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IMF Headquarters in Washington D.C.

Patterns of organizing and administering trade include:

State control - trade centrally controlled by government planning.
- Laws regulating Trade and establishing a framework such as trade law, tariffs, support for intellectual property, opposition to dumping.
Guild control - trade controlled by private business associations holding either de facto or government-granted power to exclude new entrants.
- In contemporary times, the language has evolved to business and professional organizations, often controled by academia. For example in many states, a person may not practice the professions of engineering, law, law enforcement, medicine, and teaching unless they have a college degree and, in some cases, a license.
Free enterprise - trade without significant central controls; market participants engage in trade based on their own individual assessments of risk and reward, and may enter or exit a given market relatively unimpeded.
Infrastructure in support of trade, such as banking, stock market,
Technology in support of trade such as electronic commerce, vending machines.

International organizations

European Common Market
GATT = General Agreement on Tariffs and Trade
G8
IMF = International Monetary Fund
OPEC = Organization of the Petroleum Exporting Countries

Free trade areas

Free trade organizations or free trade areas
European Free Trade Association
Free Trade Area of the Americas
NAFTA = North American Free Trade Agreement
South American Community of Nations