Why Nations Trade With Each Other
Why Nations Trade With Each Other
Why Nations Trade With Each Other
Answer:
Trading was already done long years ago by our ancestors they called it “barter” or changing
item to one another. In the current situation countries trade with each other when, on their
own, they do not have the resources, or capacity to satisfy their own needs and wants. By
developing and exploiting their domestic scarce resources, countries can produce a surplus,
and trade this for the resources they need. Today, international trade is at the heart of the
global economy and is responsible for much of the development and prosperity of the modern
industrialised world.