Question

outline the importance of trade? answer in brief.​

Answer 1

Answer:

The process of economic specialization and trade, in which individuals focus on doing the things they do best and then exchange the products of their labor with others who are likewise concentrating on their own areas of excellence, leads to much higher levels of production of goods and services as well as the most ...

Answer 2

The exchange of goods among people, states and countries is referred to as trade. The international trade is important because: It helps in improving the quality of domestic goods. It contributes to the economic growth of the country by raising income level of the people and increasing foreign exchange reserves.

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