Question

questions: international trade benefits 10 marks. knowledge (1 mark per sentence) in your own words, provide an explanation as to why each of the below a benefit of international trade in international markets. write two benefits. benefit of trade explanation (why or how is it a benefit?) access to markets cheap labour

Explanation:

• Access to Markets: Allows businesses to sell products to a larger customer - base, increasing sales potential and revenue.
• Cheap Labour: Reduces production costs, enabling companies to offer products at more competitive prices and increase profit - margins.

Answer:

• Access to Markets: Enables reaching more customers, boosting sales.
• Cheap Labour: Lowers production costs, enhancing competitiveness.