What is trade explain the importance of international trade

Asked by admin @ 13/08/2021 in Social Sciences viewed by 347 People

What is trade ? Explain the importance of international trade

Answered by admin @ 13/08/2021

Trade refer to the prosess of traveling of goods from one country to another country .
The importantce of international trade is ;

● It is the main channel for connecting countries : goods travel from one markets to another country .
● Choices rises : choices of goods in the market rises .
● Impact on prices : prices of simmilar goods in two markets tend to be equal because of international trade .
● competition : producer in two countries closesly compete with each other.
● Expansion of local market.

What is trade explain the importance of international trade

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