Question

Advantages of local trade

Answer 1

Supporting local trade has many benefits. It helps to prop up businesses within an area and keeps money flowing within domestic economies. ... Local trade within many regions can reduce the need for foreign imports and cut the country's spend abroad. Local businesses have as much a role as local individuals.

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Answer 2

trade increases competition and lowers world prices, which provides benefits to consumers by raising the purchasing power of their own income,and leads a rise in consumer surplus .trade also breaks down domestic monopolies ,which face competition from more efficient foreign firms.

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