Question

How does foreign trade play an important role in integrating the market across the countries? Explain

➠5 points needed with detailed explanation.

Class - 10th
Chapter - Globalisation and the Indian economy.


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Answer 1

Answer:

Foreign trade provides opportunities for both producers and buyers to reach beyond the markets of their own countries. Goods travel from one country to another. Competition among producers of various countries as well as buyers prevails. Thus foreign trade leads to integration of markets across countries.

Answer 2

Answer:

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Explanation:

integrating the markets across the countries?

Foreign trade leads to integration of markets across countries by the processes of imports and exports. Producers can make available their goods in markets beyond domestic ones via exports. Likewise, buyers have more choice on account of imports from other countries