10th Class Social Science Globalisation Question Bank Short Answer Type - Globalisation and The Indian Economy

  • question_answer How does foreign trade lead to integration of markets across countries? Explain with an example other than those given here.

    Answer:

    Foreign trade provides an opportunity for both producers and buyers to reach beyond the markets of their own countries. Goods travel from one country to another. There is huge competition among producer of one country and producer of another country. Competition among buyers also, prevails. Thus foreign trade lead to integration of markets across countries. For example, during Diwali seasons, buyers in India have the option of choosing between Indian and the Chinese decorative lights and bulbs. Many shops have replaced Indian decorative lights with Chinese lights. For Chinese light manufacturers, this provides an opportunity to expand business.


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