Question

how does trade strengthen the economy of a country​

Answer 1

Answer:

Trade increases competition and lowers world prices, which provides benefits to consumers by raising the purchasing power of their own income, and leads a rise in consumer surplus. Trade also breaks down domestic monopolies, which face competition from more efficient foreign firms.

Answer 2

Trade strengthen the economy of a country by increasing competition and bringing price reduction in the market.

Explanation:

• Countries get involve in trading activities when they do not have the resources to satisfy their needs and wants.
• Trade encourages a country to concentrate on producing only those goods which can provide more efficiently.
• Trade increases competition and lowers prices, which gives benefits to consumers by raising the purchasing power.
• Trade also increase employment.

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How do trade strengthen the economy of a country

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