State whether true/false

Foreign trade does not lead to integration of markets across countries.

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True

False

answer is B.

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Detailed Solution

The above statement is false.
Globalisation and liberalisation have opened doors to various opportunities both for buyers and sellers. Now, buyers can buy any products which are manufactured in other countries around the world. The sellers can also now sell their products and services to any country in the world. Consumers now can get various products at their doorstep, from cheap to expensive, and sellers can attract a larger number of customers from across different countries. Competition between producers has also increased, which has led to a better quality of products for the consumers.
Hence, the correct statement should be that the foreign trade has integrated the world's different economies.

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