Question

What is the importance of trade?

Answer 1

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• Trade is critical to America's prosperity - fueling economic growth, supporting good jobs at home, raising living standards and helping Americans provide for their families with affordable goods and services.

Answer 2

1. No country can survive without international trade because resources are space bound.

2. Advancement of international trade of a country leads to its economic prosperity because such a trade providesso many jobs to workers as well as business to traders.

3. It is through international trade that we earn much of our foreign exchange which is required for importing many essential goods.

4. Foreign trade helps in transfer of technology.