Question

Trade. Outline the importance/ advantages of it.

Answer 1

Lower Costs. One of the most immediate benefits of international trade is lower costs to consumers. ... Consumers paid much lower prices for food imports, and a reduction of investment barriers prompted foreign investors to spend money building the domestic economies and infrastructures of member nations

Answer 2

The importance of trade is outlined in the following points:

• Trade favors the distribution of commodities and services over large areas.

• It generates opportunities to fetch financial profits.

• An increase in trade results in the growth of the business.

• Trade helps in fostering multi-lateral relations.
• The generation of new employment is ultimately a result of growing trade.
• Along with commodities and services, trade also avails the exchange of new and advanced technologies.
• The effect of positive trade is wide and is evident to be multiple-fold.
• Trade allows in maintaining access to resources for all.