Question

Foreign trade integrates the markets in different countries. explain

Answer 1

Since historic times foreign trade been the main channel connecting countries, e.g. silk route connects India and South Asia to markets both in the East and West.
Foreign trade creates an opportunity for the producers to reach beyond the domestic market. They can sell their produce not only in domestic market but can also compete in market of other countries.
For the buyers, import of goods produced in another country provided opportunity to extend their choice of goods beyond what is domestically produced.
Foreign trade thus, results in connecting the markets in different countries.


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Answer 2

Answer:

Foreign trade integrates the markets in different countries. It brings in foreign investment. With the opening of foreign trade, the companies can now sell their products internationally rather than only in the domestic market. This lead to an increase in the variety of goods in the market. As the competition increases, prices of similar products become equal. Countries across the globe closely compete against each other. Thus markets across the globe get connected. This competition leads to an improvement in the quality of products. But it also prevents the domestic producers from flourishing and may hinder their sales.