Question

$chapter \: - lifelines \: of \: national \: economy \:$
No country can survive without international trade?? (class 10)

Answer should be in points (5 marks)​

Answer 1

Answer:

Yes, no country can survive without International trade in the present global world because if the people do not sell their product in the international market, they could not earn the money for there livelihood and they can not fulfil their basic needs and there family.

Explanation:

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Answer 2

Answer:

(i) No country in the world is self-sufficient in all its needs. Goods produced by one country are required by the other country and vice-versa. Hence, differences in resources, needs and development among nations creates conditions for international trade between them.

(ii) It helps in exchange of surplus goods with those of deficit countries through foreign trade.

(iii) Foreign trade has helped India to improve its productivity of manufactured goods.

(iv) International trade contributed to India's economic growth, raising income levels of people thus, increasing the foreign exchange reserves.

(v) International trade helps India to import advanced technology of other countries to improve its own production.

Explanation:

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