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FOREIGN TRADE — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsFOREIGN TRADE2 Marks
Question
State the reasons for International trade (only points).
✓

Answer

1. Difference in factor endowments (natural resources).
2. Differences in cost of production.
3. Differences in technological progress.
4. Division of labor and specialization.

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