Q7 of 30 Page 1

What is the basic function of foreign trade?

Foreign Trade helps in creating opportunities for the producers of a country to reach beyond the domestic market (market of their own country) and compete in markets located in other countries.

NOTE - Foreign Trade refers to the exchange of various goods and services that takes place between countries. It has been the most important channel that connected various parts of the world, as can be traced back in history.


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