Q. 83.8( 39 Votes )
How does foreign trade lead to integration of markets across countries? Explain with an example other than those given here.
Increased trading activities among countries has strengthened markets in the following ways-
● Foreign trade has led to increased competition among the producers, which has further increased efficiency of the market.
● For the consumers, it has led to increased choices, which has led to increased consumer satisfaction.
● It has led to availability of goods and services which were not earlier available in the local market.
This is how markets are integrated through foreign trade. For example, Chinese electronic items are imported to India, and have proved to be a tough competition for less-technologically-advanced companies over here.
Rate this question :
In recent years China has been importing steel from India. Explain how the import of steel by China will affect.
(a) Steel companies in China
(b) Steel companies in India.
(c) Industries buying steel for production of other industrial goods in China.Together With Social Science
What is the basic function of foreign trade?Together With Social Science
Analyse the role of Chinese toys in India.Together With Social Science
What is the basic function of foreign trade?Social Science - Board Papers
“Foreign trade integrates the markets in different countries.” Support the statement with arguments.Social Science - Board Papers
How does foreign trade lead to integration of markets across countries? Explain with an example other than those given here.NCERT - Understanding Economic Development
what were the reasons for putting barriers to foreign trade and foreign investment by the Indian government? Why did it wish to remove these barriers?NCERT - Understanding Economic Development