Question

advancement of International Trade of a country is an index to its prosperity support the statement with suitable examples

Answer 1



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“Advancement of international trade of a country is an index of its economic prosperity”

CBSE Class 10CBSE Class 10 Social

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mereena

Mar '17

"Advancement of international trade of a country is an index of its economic prosperity”. Justify the statement with five arguments.

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Mar '17

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mereena

Mar '17

This statement is true because
(i) as the resources are limited no country can survive without International trade.
(ii) goods or resources possessed by one country are required by other and vice-versa. These differences create conditions for international trade.
(iii) foreign trade has helped India to improve its productivity of manufactured goods. International trade contributes to India’s economic growth, raising income level of people.
(iv) in the recent years, exchange of commodities and goods have been superseded by the exchange of information and knowledge.
(v) India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.
Thus, it can be concluded that advancement of international trade of a country is an index of its economic property.

Answer 2

Answer:

Answer:(i) As the resources are space-bound, no country can survive without international trade. (ii) Foreign trade has helped India to improve its productivity of manufactured goods. International trade contributes to India’s economic growth, rising income level of people. (iii) Goods or resources possessed by one country are required by other and vice-versa. These differences create conditions for International trade. (iv) In the recent years, exchange of commodities and goods have been superseded by the exchange of information and knowledge. (v) India has emerged as a software giant at the International level.