International Business · Class 11 · CBSE · Commerce Business Studies
State any two benefits of international business to a country and briefly explain each.
Practice question from International Business (Class 11 · CBSE · Commerce Business Studies), with the correct answer and a step-by-step solution.
medium · Subjective · Q-E711DB
State any two benefits of international business to a country and briefly explain each.
Answer: International business earns foreign exchange through exports, enabling a country to pay for necessary imports and meet international obligations. It also promotes efficient use of resources by allowing countries to specialise in producing goods and services in which they have greater efficiency. In addition, it can generate employment and encourage economic growth.
Solution
International business helps a country earn foreign exchange and use its resources more efficiently through specialisation. It may also expand markets, create employment and support economic growth.
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