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Which of the following statements are correct about the benefits of international trade? (A) It has allowed an enormous variety of resources to enter into trade basket (B) It facilitates the distribution of a wide range of manufactured goods, produced in different parts of the world to global market (C) International trade decreases the overall costs of production (D) It has helped the developing countries more than developed countries (E) It has helped the consumers to buy more goods from whatever wages they earn and their living standards improved Choose the correct answer from the options given below: 

Which of the following statements are correct about the benefits of international trade? (A) It has allowed an enormous variety of resources to enter into trade basket (B) It facilitates the distribution of a wide range of manufactured goods, produced in different parts of the world to global market (C) International trade decreases the overall costs of production (D) It has helped the developing countries more than developed countries (E) It has helped the consumers to buy more goods from whatever wages they earn and their living standards improved Choose the correct answer from the options given below:  Correct Answer <span style="">(A), (B), (C) only </span>

Correct Answer: (A), (B), (C) only.

Key Points

  • One of the top advantages of international trade is that you may be able to increase your number of potential clients. Each country you add to your list can open up a new pathway to business growth and increased revenues.
  • Getting paid upfront may be one of the hidden advantages of international trade. When trading internationally, it may be a general practice to ask for payment upfront, whereas at home you may have to be more creative in managing cash flow while waiting to be paid. Expanding your business overseas could help you manage cash flow better.
  • It has allowed an enormous variety of resources to enter the trade basket.
  • One of the significant advantages of international trade is market diversification. Focusing only on the domestic market may expose you to increased risk from downturns in the economy, political factors, environmental events, and other risk factors. Becoming less dependent on a single market may help you mitigate potential risks in your core market.
  • International trade decreases the overall costs of production.
  • Another advantage of international trade is that you may be able to leverage export financing.​

Additional Information

  • One of the advantages of international trade is that you may have an outlet to dispose of surplus goods that you're unable to sell in your home market.
  • Doing business in other countries can boost your company's reputation. Successes in one country can influence success in other adjacent countries, which can raise your company's profile in your market niche. It can also help increase your company's credibility, abroad and at home.
  • International markets can open up avenues for a new line of services or products. It can also give you an opportunity to specialize in a different area to serve that market.

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