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myrzilka [38]
3 years ago
9

Why is trade necessary explain with example​

Social Studies
1 answer:
Oksanka [162]3 years ago
7 0
Trade increases competition and lowers world prices, which provides benefits to consumers by raising the purchasing power of their own income, and leads a rise in consumer surplus. Trade also breaks down domestic monopolies, which face competition from more efficient foreign firms.
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