Question

What is trade . Explain the importance of foriegn trade

Answer 1

trade is process by which we can full fill our desires

Answer 2

Answer:

Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market.

The main reasons which make foreign trade important for economy of a country or the significance of foreign trade are: It helps in expansion of business and in dissolving monopolistic entities, increasing competition. It also encourages product innovation and brings wider availability goods and services to choose from.

Explanation:

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