How has foreign trade been integrating markets of different countries? Explain with examples.
OR
How do we feel the impact of globalization on our daily life? Explain with examples.
Answers
the foreign trade for a long time has been the main channel for connecting the connecting the countries .
it creates the oppurtunities for the producers to reach beyond the domestic markets as well as in the markets in the other countries
this is done by the imports and exports of the countries
for example: nowadays we can see many china toys in india and these are being preferred over he indian toys because of the low cost
this results in the more choice of goods for the consumers thus foreign trade results in connecting the markets in the different countries
the impact of the gobalisation in our daily is in many ways such as:
a) we saw that due to the foriegn trade the choice of goods increases for the consumers
b) due to the competition the producers try to attract the consumers to their products so they would keep many discounts which is profitable toi the consumers
c) even the quality of the products would increase
d) due to the globalisation there have been more developments in the telecommunications including mobile phones . now it is possible for us to contact one another around the world
in these ways there has been a impact on us due to globalisation
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