QAEconomics › The advantage that society gains through trade lie in the ability to
Q

The advantage that society gains through trade lie in the ability to

A

…to trade with other nations, export the products that are locally produced and import the products that the society have a need for but does not produce.

Trade leads to the specialization in the production of products that society has demands for. That is, meeting the demands of society. Society benefits from trade by effectively utilizing natural resources.

Trade is a way of generating revenue for society. it is a viable way of growing the economy of the society.

Trade creates employment for the people. companies involved in large trade can employ people to work for them. It is a means of employment in the government and private sectors.

Trade helps in civilizing the people. Trade brings people together to learn the language and culture of other people. This is so, especially for international trade. Trade also encourages unity. Meeting with people affords you the opportunity to see them for who they are. And trading together brings unity and enhances understanding.

2 months ago
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