Question

"Advancement of international trade of a country is an index of the economic prosperity." justify the statement with 5 argument

Answer 1

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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Answer 2

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: