International trade is desirable because it

Assessment: WAEC SSCE - Economics - 2014 (Objective) Subject: Economics

Question 1 Report

International trade is desirable because it

Answer Details
International trade is desirable because it provides a foreign market for local goods, allowing countries to specialize in the production of goods that they can produce efficiently and competitively. This, in turn, creates employment opportunities and increases the standard of living for citizens of those countries. Moreover, international trade encourages competition, leading to lower prices and increased quality of goods and services. While there may be some risks associated with international trade, such as over-dependence on other countries or unhealthy competition, the benefits generally outweigh the costs. Therefore, international trade is seen as a positive force for economic growth and development.

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