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Answer:
Why do People Trade?Trade increases competition and lowers world prices, which provides benefits to consumers by raising the purchasing power of their own income, and leads a rise in consumer surplus.
Is there really a need to trade with other countries?Countries trade with each other when, on their own, they do not have the resources, or capacity to satisfy their own needs and wants.
What Benefits can we get from trading?
~Increased revenues. ...
~Decreased competition. ...
~Longer product lifespan. ...
~Easier cash-flow management. ...
~Better risk management. ...
~Benefiting from currency exchange. ...
~Access to export financing. ...
~Disposal of surplus goods.