what are the advantages of Foreign Trade and Integration of Markets !?
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Answers
Answer:
Foreign trade provides opportunities for both producers and buyers to reach beyond the markets of their own countries. Goods travel from one country to another. Competition among producers of various countries as well as buyers prevails. Thus foreign trade leads to integration of markets across countries.
Answer:
Foreign trade = (i) With the opening of trade, goods travel from one market to another.
(ii) Choice of goods in markets rises.
(iii) Prices of similar goods in two markets tend to become equal.
(iv) Producers in the two countries now closely compete against each other even though they are separated by thousands of miles.
Integration of markets= The advantages include increasing market share, reducing competition, and creating economies of scale.