FOREIGN TRADE AND INTEGRATION OF MARKETS

  • Foreign trade is the trade between different countries of the world.
  • Foreign trade allows producers to expand their reach beyond their domestic markets, i.e. markets within their own countries.
  • Producers can compete in marketplaces outside of their own nation as well as markets in other nations by selling their goods there.
  • Advantages of Foreign Trade 
    • Promotes the exchange of products and services between countries.
    • Promotes the movement of people, ideas, and technology .
    • Creates an opportunity for the producers to sell their products worldwide.
  • As a result of foreign trade, markets in many countries are connected or integrated.
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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.