importance of international trade .give 5 points.
Answers
Answer:
International Trade encourages countries to compete with each other in the production of different kinds of goods at low cost of production. Competitiveness stimulates productivity. 6) It widens the extent of market. Every country makes an attempt to produce different goods in large quantity.
Answer:
The importance of international trade. International trade between different countries is an important factor in raising living standards, providing employment and enabling consumers to enjoy a greater variety of goods.
) Greater Variety of Goods Available for Consumption: ...
2) Efficient Allocation and Better Utilization of Resources: ...
3) Promotes Efficiency in Production: ...
4) More Employment: ...
5) Consumption at Cheaper Cost: ...
6) Reduces Trade Fluctuations: ...
7) Utilization of Surplus Produce: ...
8) Fosters Peace and Goodwill