explain the impact of international trade on economic development of an underdeveloped country
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Foreign Trade helps in Breaking Vicious Circle of Poverty: ... But, international trade enables underdeveloped countries to produce more of those goods in which they enjoy greater comparative advantage. Consequently, production, income and employment in these countries increase leading to increase in demand.
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Foreign Trade helps in Breaking Vicious Circle of Poverty: ... But, international trade enables underdeveloped countries to produce more of those goods in which they enjoy greater comparative advantage. Consequently, production, income and employment in these countries increase leading to increase in demand.
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