Explain with examples how the opening up of foreign trade results in connecting the markets in different countries. -SST 10th

Explain with examples how the opening up of foreign trade results in connecting the markets in different countries. -SST 10th
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Answer :

Foreign trade provides opportunities for both producers and buyers to reach beyond the markets of their own countries. Goods travel from one country to another. Competition among producers of various countries as well as buyers prevails. Thus, foreign trade leads to integration of markets across countries. For example, during Diwali season, buyers in India have the option of choosing between Indian and Chinese decoratiVe lights and bulbs. So, this provides an opportunity to expand business.
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“Different countries face different kinds of challenges”. Support the statement with suitable examples. -SST 10th

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Why are trade barriers imposed on the foreign trade and investment in a country? -SST 10th

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Why had the Indian government put barriers to foreign trade and foreign investments after independence? -SST 10th

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What are the basic functions of foreign trade? -SST 10th

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