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Class 10
Social Science - Understanding Economic Development
Globalisation and the Indian Economy
how does foreign trade lead to the integration of...

Question:
How does foreign trade lead to the integration of markets across countries? Explain with an example other than those given here.

Answer:

Because of foreign trade the producers are now able to compete and export their goods to the markets of other countries. Not just the sellers but the buyers are also being benefited through this. Their choices have expanded as now they get to choose products manufactured by not only domestic companies but also by the foreign companies. Due to the increased competition in the market the prices of the goods have also decreased. For example, the Indian market today is flooded with several varieties of smart phone of foreign brands at competitive
prices . This has benefited the consumers as they can choose from various option available in the market on the basis of the comparing their features and prices.

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Question:
How does foreign trade lead to the integration of markets across countries? Explain with an example other than those given here.

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Question: How does foreign trade lead to the integration of markets across countries? Explain with an example other than those given here.

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Question:
How does foreign trade lead to the integration of markets across countries? Explain with an example other than those given here.