Question

International trade gives the following benefits:

1. Promotes territorial specialisation.

2. Way out for intense competition.

3. Employment generation.

4. Optimum utilisation of resources.

Identify the values involved in the above benefits of international trade.

Answer 1

1. Benefits of economies of scale will be enjoyed.

2. No risk of over production.

3. Economic growth of the country will accelerate.

4. Best possible productive utilisation of resources for the benefit of all.

5. Creates international cooperation.