The Benefits Of International Trade
The result of our new technology, is that countries are able to trade with each other more conveniently, thereby increasing the trade done internationally. Additionally, technology has greatly increased long …show more content…
A country may excel at producing a good due to the following reason. Quite simply, the resources required to manufacture that good are abundant in that country resulting in the highest efficient production of that good in the world. Being the primary provider of a product greatly increases sales for a country as well as GDP. Consequently, many countries will realize this and allow that country to be the primary provider of those goods to the global market. A country will discover what product they can produce with the greatest efficiency and trade that product in the global market.
Since country can only sell so much locally, there would be a finite number of sales that business can have, thus limiting the success of the business. However, if the country were to trade internationally, that would inevitably increase sales exponentially for that business. Therefore, trading in the global market benefits a country greatly.
Ultimately, international trade is absolutely crucial when managing a large business to become successful. Trading internationally sets up major success in that business or country well beyond what would be possible within the local