Foreign trade connects markets in different countries, resulting in:

Question

Accepted Answer

A. Integration of markets

1. Prices of similar goods tend to equalise.
2. The result is integration of markets.
3. Producers compete across thousands of miles.
_Source: syllabus Understanding Economic Development, Chapter 4, Globalisation and the Indian Economy._

Answer

Isolation of markets

Answer

Closing of local shops

Answer

Permanently fixed prices

Foreign trade connects markets in different countries, resulting in:

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