Question

short note on important of trade ​

Answer 1

Trade increases competition and lowers world prices, which provides benefits to consumers by raising the purchasing power of their own income, and leads a rise in consumer surplus. Trade also breaks down domestic monopolies, which face competition from more efficient works.

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Answer 2

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.World exports of goods and services have increased to $2.34 trillion ($23,400 billion) in 2016.

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