Assertion (A): Trade is considered as the economic barometer of the country.

Reason (R): Trading helps largely in developing countries like India. Advancement of Trade is an index to its economic prosperity.

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Both A and R are true and R is the correct explanation of A.

Both A and R are true, but R is not the correct explanation of A.

A is true, but R is false.

A is false, but R is true.

answer is A.

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Detailed Solution

Because resources are finite and no country can exist without trade, trade is seen as the economic barometer of the nation. In emerging nations like India, trading has significantly aided. Trade growth is a sign of a country's economic health. Another country requires goods and resources from one country, and vice versa. These create conditions for international trade. Foreign trade in India has helped improve the productivity of manufacturing goods and raised income levels, contributing to the country's economic growth. Recently, the greater exchange of goods has benefited from information and knowledge.

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