Question

Grade 10 why is foreign trade neccessary?Whare the functions of foreign trade?What are the advantages of foreign trade?

Answer 1

HI

1.Foreign trade creates an opportunity for the producers to reach beyond the domestic markets.

2.Producers can sell their produce in the markets located within the country.

3.Producers can also compete in markets located in the other countries of the world.

Hope it proved to be beneficial.....

Answer 2

Answer:i. Foreign trade creates an opportunity for the producers to reach beyond the domestic markets, and reach international markets.

ii. Producers can sell their produce not only in markets located within the country but can also compete in markets located in other countries of the world.

iii. Similarly, for the buyers, import of goods produced in another country is one way of expanding the choice of goods beyond what is domestically produced. Foreign trade thus results in connecting the markets or integration of markets in different countries.

iv. Foreign trade promote international understanding and economic inter dependence between countries