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Which of the following statements accurately describes the role of foreign trade in economic development?a)Foreign trade has no impact on the economic development of a country.b)Foreign trade allows a country to specialize in producing goods it's efficient at, leading to economic growth.c)Foreign trade always leads to unemployment and reduced national income.d)Foreign trade only benefits developed countries, not developing ones.Correct answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Which of the following statements accurately describes the role of foreign trade in economic development?a)Foreign trade has no impact on the economic development of a country.b)Foreign trade allows a country to specialize in producing goods it's efficient at, leading to economic growth.c)Foreign trade always leads to unemployment and reduced national income.d)Foreign trade only benefits developed countries, not developing ones.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statements accurately describes the role of foreign trade in economic development?a)Foreign trade has no impact on the economic development of a country.b)Foreign trade allows a country to specialize in producing goods it's efficient at, leading to economic growth.c)Foreign trade always leads to unemployment and reduced national income.d)Foreign trade only benefits developed countries, not developing ones.Correct answer is option 'B'. Can you explain this answer?.

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