Question

Foreign trade and integration of markets explain with an example

Answer 1

For a long time foreign trade has been the main channel connecting countries . Even as early as the 8 century extensive trade took place between South Asia , including India, and the East and West . Trading interests attracted various trading companies such as the East India Company to India.
The benefits of foreign trade were tremendous :
1 . Foreign trade created an opportunity for the producers to reach beyond the domestic markets , i .e ., markets of their own countries .
2 . Producers could compete in markets located in other countries of the world .
3 . Expanding foreign trade gave consumers a wider choice of goods beyond what is domestically produced .
So , due to foreign trade and the integration of markets …

Answer 2

Foreign trade has been integrating markets of different countries, as it allows the producers to cross international boundaries in search of cheap raw materials. The manufactured goods and services can now be sold in various markets of different countries.

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