Question

How does foreign trade play an
important role in integrating the
markets across the countries ?
Explain.​

Answer 1

Answer:

(i) Foreign trade gives opportunity to producers to sell their good in other countries of the world. Producers can sell their produce not only in local or domestic market but can also compete in global market.

(ii) For the ordinary consumers the foreign trade prooves very useful because the best brands of different articles are produced all over the world. Their choice of goods expands manifolds.

(iii) For the buyers, the import of goods produced in another country is one way of expanding the choice of goods beyond what is domestically produced.

HOPE IT HELPS!