Question

how does foreign trade help in aching better standard of living or consumer​

Answer 1

Answer:

International trade tends to reduce the prices of consumption goods, creating welfare gains for consumers in importing countries. Welfare gains through reduced costs of consumption may be larger than gains or losses through income changes

Answer 2

Answer:

International trade tends to reduce the prices of consumption goods , creating welfare gains for consumers for importing countries . Welfare gains through reduced costs of consumption may be larger than gains or losses through income changes .