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Q.

Foreign trade creates an opportunity for the producers to go ____ beyond the domestic markets.


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Detailed Solution

Foreign trade creates an opportunity for the producers to go global, i.e., beyond the domestic markets. Foreign trade refers to the trade or exchange of goods and services across the geographical boundaries of different countries. Such an international exchange enables the countries with scarce resources to import them from the countries having an abundance of the same, thereby ensuring the optimum utilisation of the world’s resources. Foreign trade creates numerous opportunities for manufacturers to enter international markets and expand their operations globally. It allows the countries to earn foreign exchanges from abroad, thereby increasing their budget surplus.
 
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Foreign trade creates an opportunity for the producers to go ____ beyond the domestic markets.