Question

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Explain about foreign trade integrating markets of different countries. ☺

Answer 1

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1.Foreign trade creates an opportunity for the producers to reach beyond the domestic market i.e., markets of their own countries.

2.. The competition is thus not just within the county, but also from the producers of different countries.

3. The buyers also get benefitted as they now havemore choices and a wider range of products to choose from.

4. With the opening of trade, goods travel from one market to another. Choice of goods in the markets rises. Prices of similar goods in the two markets tend to become equal.

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