Question

'Advancement of international trade of a country is an index to its economic prosperity ' Elaborate with examples

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 channelises the exchange of culture and indirectly helps in promotion of tourism industry.

Answer 2

Hi there,

'Advancement of international trade of a country is an index to its economic prosperity.

Following are some of the ways describing how;

• International trade helps a country t be acknowledged internationally.
• It enhances international contacts and relations which can helps in trade and other business opportunities.
• Foreign help enhances country's economic structure.
• More employment opportunities are opened.
• More chances of establishing the country through the profit earned through it.
• Infrastructure of the country is positively effected.

I hope the answer helped.

Thanks