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Sunday, June 7, 2009

advantages of foreign trade

there are many advantages that accrue to the nations engaged in foreign trade
there is advantages wich comes from the principle of division of labour as aplied to the various countries
foreign trade enables nation to specialize in the production of those goods in wich they have greatest advantage. this leads to the production of good under the most favorable conditions and thus increases the total wealth and welfare of the world
foreign trade enables concumer not only to engoy the products of foreign countries wich their own country could never produce ,but also to get their requirements from the cheapest markets of the world . they very fact that goods wich are imported from abroad show that their price is cheaper than the similar home products

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