Give the advantages of international trade.
Dear student,
International trade refers to exchange of goods and services across the boundaries of country.
The advantages of International Trade are:
1) International business helps a nation to earn foreign exchange.
2) It help to increase the growth by widening the consumer base.
3) International business leads to specialisation. It helps to reduce wastage of resources and encourage nation to make optimum use of resources.
4) It makes available different variety of goods and services at reasonable prices to consumers, which in turn help to raise standard of living of consumers.
5) It helps in development of nation by way of exchange of technical know how between underdeveloped and developed nations.
6) It promotes international peace and rivalry by removing rivalry between different nations.
Regards
International trade refers to exchange of goods and services across the boundaries of country.
The advantages of International Trade are:
1) International business helps a nation to earn foreign exchange.
2) It help to increase the growth by widening the consumer base.
3) International business leads to specialisation. It helps to reduce wastage of resources and encourage nation to make optimum use of resources.
4) It makes available different variety of goods and services at reasonable prices to consumers, which in turn help to raise standard of living of consumers.
5) It helps in development of nation by way of exchange of technical know how between underdeveloped and developed nations.
6) It promotes international peace and rivalry by removing rivalry between different nations.
Regards