Describe three reasons why trade occurs?

Question: Describe three reasons why trade occurs?

Resource Availability: Different regions have access to different natural resources. By trading, they can obtain resources they lack, like oil, timber, or minerals.

Specialization: Countries or regions focus on producing goods they can create most efficiently. By trading, they can benefit from others' specialties, leading to a greater variety of products.

Economic Growth: Trade stimulates economic growth by opening markets for goods and services, leading to more job opportunities and higher income levels.

Trade isn't just about goods; it's about mutual growth and connection.

Rjwala

Rjwala is your freely Ai Social Learning Platform. here our team solve your academic problems daily.