answersLogoWhite

0

Function of foreign trade

Updated: 4/28/2022
User Avatar

Wiki User

11y ago

Best Answer

(i) Foreign trade creates an opportunity for the produces to reach beyond the domestic markets.

(ii) Producers can sell their produce not only in markets located within the country but can also compete in markets located in other countries of the world.

(iii) For the buyers, import of goods produced in Another Country is one way of expanding the choice of goods beyond what is domestically produced.

User Avatar

Wiki User

11y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Function of foreign trade
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is the nature of foreign trade?

Chinese against foreign trade


What is the advantages and disadvantages of foreign trade multiplier?

advantages of foreign trade multiplier


When the US buy more products than its sells from other countries what is created?

foreign trade deficit


What is function of exim policy?

EXIM, otherwise known as the Export-Import Bank of India, is the country's primary financial institution. The bank's function is to finance and facilitate foreign trade for the country.


Did Athens support or avoid foreign trade?

Did Athens support or avoid foreign trade?


Who is the Minister of Foreign Trade for Sweden?

Ewa Bjorling is the Minister of Foreign Trade for Sweden.


What can congress do through it's commerce power?

regulate foreign trade


When was Ministry of Foreign Trade - Colombia - created?

Ministry of Foreign Trade - Colombia - was created in 1991.


When did Ministry of Foreign Trade - Colombia - end?

Ministry of Foreign Trade - Colombia - ended in 2002.


When was National Foreign Trade Council created?

National Foreign Trade Council was created in 1914.


When was Indian Institute of Foreign Trade created?

Indian Institute of Foreign Trade was created in 1963.


When was Shanghai Institute of Foreign Trade created?

Shanghai Institute of Foreign Trade was created in 1960.