Process of buying and selling goods and services from one country to another is ____.

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Detailed Solution

1)      The process of buying and selling goods and services from one country to another is known as Foreign Trade.
2)      Foreign trade increases competition among companies in terms of quality, quantity, etc.
3)      With the help of foreign trade, people can also sell their goods in the international market.
4)      Foreign trade gives buyers and sellers opportunities to reach beyond their own country's markets.
5)      Foreign trade increases choices for consumers, which leaves consumers with more variety of goods and services.
6)      For example, India imports many types of goods that are produced in other countries like electrical types of machinery, nuclear types of machinery, organic chemicals, iron, fertilisers, plastic items, medical instruments, vehicles and accessories, precious and semi-precious stones, etc.

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