Question

How can consumer producer are benefit for foreign trade explain with example?

Answer 1

There manifold benefits of foreign trades that both producers and consumers can enjoy.

Some of these are outlets for products, better price, competitive edge, efficiency of production, boosting growth of economy, boosting overall employment, increasing consumer welfare, earning foreign exchange, global exposure, etc.

Foreign trade helps in understanding global market, helps in assessing market potential, and idea about global standard of customer care.