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How does foreign trade play an important role in integrating the market across the countries? Explain
At least 5 points needed with detailed explanation.
Class - 10th
Chapter - Globalisation and the Indian economy.
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Answers
Answer:
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Foreign trade leads to integration of markets across countries by the processes of imports and exports. Producers can make available their goods in markets beyond domestic ones via exports. Likewise, buyers have more choice on account of imports from other countries.
Explanation:
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Answer:
1) Foreign trade provides opportunities for both producers and
buyers to reach beyond the markets of their own countries.
2) Producers can sell their produce not only in markets located within the country but also in markets located in other countries of the world.
3) It allows the producers to cross international boundaries in search of cheap raw materials.
4) It increases competition among companies in terms of quantity, quality and price.
5) With the liberalization of foreign trade , electronic goods, like digital cameras and lap top computers have flooded the Indian market from foreign countries.