Question

How does foreign trade integrate markets around the world?

Answer 1

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Chinese toys in India and Indian ready made garments in other countries have resulted in connecting the markets or integration of markets in different countries. Goods travel-from one market to another in lording trade. Choice of goods in the market rises. Prices of similar goods in the two markets tend to become equal. The Indian producers can sell their produce not only in domestic markets but also compete in markets located in other countries of the world. Thus foreign trade leads to integration of markets across countries.

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