Question

foreign trade is an important component of globalisation. explain any three point in this regard

Answer 1

1. Foreign trade access the consumers a wide choice for choosing products.
2. Foreign trade helps every country to make optimum use of its natural resources. Each country can concentrate on production of those goods, for which its resources are best suited. 3. Foreign trade enables a country to obtain goods, which it cannot produce. Sometimes a country can produce goods but the production cost turns out to be very high. 
4. Give opportunities for youths who are unemployed.
5. Creates friendly and peace situations among nations.

:) Hope This Helps!!!

Answer 2

Answer:

Economics, Chapter 4: Globalisation and the Indian Economy, Ncert Questions, Page no. - 72, 1.What do you understand by globalisation? Explain in your own words., Answer: (refer reader page no. 62 A & B side) (any 5 points in exam) (remaining points write in c.w), Globalisation is the process by which the whole world becomes a single market., Globalisation is defined as the integration between countries through foreign trade and foreign, investments by multinational corporations (MNCs). (1mark) (reader page number-62 A side) mark in, reader, Increase in foreign trade, migration of people, spread of technology, capital flow,private and public,