how do nations gain from international trade
Answers
Answer:
A country gains from net exports. Due to international trade, a product made in China or India can be sold in US, Canada, Europe, etc. ... Thus, International trade helps to increase the GDP of a country and also reduces the cost of products for the citizens of the countries receiving it.
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Explanation:
1. International trade is the result of specialization in production.
2. It benefits the world financial system if different countries practice specialization and division labor in the producing of commodities and providing services to other people.
3. It increases the level of production as with available finances or foreign technology; the developing nations can increase the quantity and quality of the production.
4. IT also gives better standards of living as with increased production and trade, there is an increase in exports and hence increased per capita income which gives rise to increased standards of living.
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