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' Advancement of international trade of a country is an index to it's economic prosperity.' comment.

Posted by Aziz Fatima 4 years, 11 months ago

CBSE > Class 10 > Social Science

1 answers

Sanika Shedge 4 years, 11 months ago

Advancement of International Trade of a country is an index to its economic prosperity in following ways: 1. Resources space bound so countries need to trade with each other for various resources. 2. When the value of export exceeds the import its favourable and beneficial to the country. This shows the positive condition of the economy. 3. But if the value of import exceeds the export its unfavourable balance of trade. This is negative for the economy of a country. 4. Increased international trade shows the increased relations between countries and is mutually beneficial.

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