"Advancement of international trade of a country is an index of the economic prosperity." justify the statement with 5 argument
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1. if a country is present in global market, it can import goods and raw materials. Since all raw materials are not always there, this exchange helps in continuing production.
2. there are increased job opportunities. once a country is in the international market, MNCs will set up and provide job opportunities.
3. foreign investment helps accelerate development.
4.Also by participating in the international trade, country earns the much needed foreign exchange.
5 The country also benefits from technology brought in by foreign companies.
6. when a domestic company becomes MNC and establishes in other countries, it channelise the exchange of culture and indirectly helps in promotion of tourism industry.
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2. there are increased job opportunities. once a country is in the international market, MNCs will set up and provide job opportunities.
3. foreign investment helps accelerate development.
4.Also by participating in the international trade, country earns the much needed foreign exchange.
5 The country also benefits from technology brought in by foreign companies.
6. when a domestic company becomes MNC and establishes in other countries, it channelise the exchange of culture and indirectly helps in promotion of tourism industry.
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Answer:
Following arguments can justify the given statement:
(i) Today, it is very difficult to survive for any country
without international trade because resources are
space bound.
(ii) Advancement of international trade of a
country leads to its economic prosperity because
international trade provides many jobs to workers
as well as business to traders.
(iii) International trade is a source of earning foreign
exchange which is required for importing many
essential goods.
(iv) Foreign trade helps in transfer of technology.
(v) Foreign trade also leads to cultural exchange.
Cultural exchanges further lead to various avenues
and ultimately open up international trade
Explanation:
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