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Question
Explain the importance of international trade.
Solution
The following points highlight the importance of international trade.
1) International trade helps fill-in the deficiency of resources and goods in a country.
2) It helps in earning income for a country by the means of selling-off its surpluses.
3) It has considerably increased after the era of globalisation and liberalisation set-in.
4) It has helped various countries achieve economic development and has also led to infrastructural growth in developing countries.
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