State two reasons why it is very important to trade

Answer 1

1. Economic growth: Trade allows countries to specialize in producing goods and services they are most efficient at, leading to increased productivity and economic growth. This can result in higher standards of living for citizens and increased prosperity for nations.

2. Access to resources: Trade helps countries access resources, products, and technologies that they may not have domestically. This can lead to increased diversity in the economy, as well as lower prices for consumers due to increased competition and access to a wider range of goods and services.