Question

How can consumer and producer benefical for froigen trade with example?

Answer 1

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

Producer can sell their produce not only in markets located with in the country but can also compete in markets located in other countries of the world.

For buyers import of goods produced in another country is one way of expanding the choice of goods.

With the opening of trade goods travel from one market to another.

Choice of goods in the market rises.

Prices of similar goods in the two markets tend to become equal.

Producers in the two countries closely compete with each other

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