What is trade? Explain the importance of international trade?
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Answered by
16
Hey, mate here is your answer✌✌》》
Trade is a basic economic concept involving the buying and selling of goods and services, with compensation paid by a buyer to a seller, or the exchange of goods or services between parties.
International trade allows countries to exchange good and services with the use of money as a medium of exchange. The benefits of international trade have been the major drivers of growth for the last half of the 20th century. So, it has a very important role for countries and their economy and industry.
Hope this answer will help you..《《⤴⤴
Trade is a basic economic concept involving the buying and selling of goods and services, with compensation paid by a buyer to a seller, or the exchange of goods or services between parties.
International trade allows countries to exchange good and services with the use of money as a medium of exchange. The benefits of international trade have been the major drivers of growth for the last half of the 20th century. So, it has a very important role for countries and their economy and industry.
Hope this answer will help you..《《⤴⤴
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Answered by
8
Trade is the activity of buying, selling, or exchanging goods or services between people, firms, or countries.
The importance of international trade are as follows:-
1. It allows countries to sell more of what they can produce in exchange for what they may lack or not have at all, to promote economic sufficiency.
2. International trade allows countries to exchange good and services with the use of money as a medium of exchange.
3. The benefits of international trade have been the major drivers of growth for the last half of the 20th century
4. it has a very important role for countries and their economy and industry.
The importance of international trade are as follows:-
1. It allows countries to sell more of what they can produce in exchange for what they may lack or not have at all, to promote economic sufficiency.
2. International trade allows countries to exchange good and services with the use of money as a medium of exchange.
3. The benefits of international trade have been the major drivers of growth for the last half of the 20th century
4. it has a very important role for countries and their economy and industry.
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