Title: Why Is Trade Important? - Blurtit
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Why Is Trade Important?
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Content: Why Is Trade Important? - Blurtit
Why Is Trade Important? 7
7 Answers
Nathaniel Hobby answered
Trade can be explained as the exchange of goods between those who produce them (the producers) and those who consume them (the consumers). Trade is important as it is a vital interaction for every country in the world. Without trade, countries would have to provide their own resources for every aspect in their daily life. Take for instance items such as food, clothing and technology. This would mean that a country is completely self-reliant which is difficult as the resource capacity for each country is limited. This is a particular issue for developing or less developed countries that cannot fully provide for themselves due to a lack of technology or education. However, even a developed country would struggle if it had to be fully self-reliant. Look around the room you are in and pick up an item, it is very unlikely it will be made in the country you are in.