Question

"The advancement of international trade of a country is an index of its economic development." Justify the statement. (5 reasons )

Answer 1

Answer:

Explanation:

International trade advancement is an index of development cause:

International trade results in increased foreign exchange earnings.

Increases GDP

Increases employment opportunities

Increases standard of living

Provides wider market for goods

Provides cheaper, better quality, more choice for goods.

Favorable balance of foreign trade means that country is developed.