Individual:
An individual can benefit from trade for many reasons. let’s let the reasons behind it. The first trade is
- The profitable incentives for an individual country to specialize in producing certain commodities.
- Every country can export their surplus products to other countries and can be benefited.
- Trade plays an important role in increasing the individual country’s living standard.
- Trade makes the economy strong in an individual country.
It helps to create a good relationship between country to country and they exchange themselves. Because every country is dependent on each other.
The World:
Now, we’re going to learn about how could the world benefit from trade. The world could be benefited from trade.
- Trade plays an expensive role in international diplomacy as well as foreign relationship.
- In the whole world, every country is interdependent on each other because they are not specialized in all products rather than one or more.
- Trade makes a balanced relationship among all the countries and every country can export their surplus products to other countries.
- So the whole world economy is sustainable.
The farmers:
Farmers are benefited more by trade. Because Farmers don’t know about their domestic demand for the products. And they face a problem with their surplus products and trade helps to export these several countries. Trade helps to make them more efficient rather than before. It helps them to produce in which they are more specialized and take a comparative advantage. Trade increases the living standard of core farmers. - they will be more efficient by doing the trade.
- trade will help them to get more profit.
- they can export their surpluses of goods.
- they can meet the world’s demands
- their living standard will change by doing the trade.
- moreover, they can lead to a happy and affluent life.