Question

what are the basic functions of foreign trade

Answer 1

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Answer 2

The following are the basic functions of the foreign trade:

1. It generates an opening for the products one a nation to reach beyond its national markets.

2. It enables the producers to sell their goods not only in the markets available in the country but can also play in the markets of other nations.

3. For consumers, the import of goods manufactured in different nation is one way of extending the selection of goods behind what is domestically manufactured.