Question

"Advancement of international trade of a country is an index to its economic prosperity" Elobrate with examples.

Answer 1

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Answer 2

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.