Question

please explain foreign Trade leads to rapid economic development.​

Answer 1

International trade is the exchange of goods and services between countries. ... According to him, foreign trade leads to an increase in the owners' incomes, relative to excess factors of production and export of the product, and stimulates economic growth.

Answer 2

Answer:

An increase in the capital stock, hence, results in an increase in the firm's stock of knowledge. International trade, as the Romer model suggests, increases the total size of the market, raises the level of output, leads to an increased learning-by-doing, and hence contributes to economic growth.

Explanation:

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