How has foreign trade been integrating markets of different countries ? Explain with example
Answers
Hey!!
Foreign Trade provides opportunities for both producers and buyers to react beyond the Market of their own Countries. Goods travel from one Country to Another.
Example - During Diwali Season we have the opportunity to choose between Indian & Chinese Decoration Lights.
Thank You...
Answer:
=> Foreign trade is the main channel which connects the markets of various countries. Foreign trade lead to integration of markets across the countries as follows:
1】Creates opportunities for the producers to reach beyond the domestic markets or the markets of their own countries.
2】Import of goods from various countries provides choice of goods for consumers beyond the goods thet ere produced domesticeMy.
3】Producers of different countries compete with each other although they are thousands of miles away.
Explanation: