ADVANTAGES OF IMPORT, SMART ZOMBI'S.

ADVANTAGES OF IMPORT:

AVAILABILITY OF GOODS:

International trade bridges the gap between demand and supply, shortage and surplus, and production and consumption. Since no country around the globe is self-sufficient and hence faces the shortage or lack of certain goods or services - which are replenished by import from the manufacturing countries.

REDUCTION IN PRICES:

Shortage of goods causes the rise in prices crating difficulties for the customer. It increases the cost of living making the life miserable of a common man. When the nations have no way out to overcome the shortage they resort to import, and consequently prices come down giving relief to the masses. As an economic phenomenon when supply is less than demand the price go up and vice versa. So to bring down prices import is one of the measures.


COMPETITION & QUALITY:

Sometimes as an economic policy imports are allowed only to create healthy competition which brings prices at the reasonable level, forces the manufacturer to improve quality and innovate goods. The improvement and innovation goes up to the extent that they are demanded abroad.


POLITICAL REASONS:

Friendship among countries, treaties, and economic blocs allow to open borders for exchange of goods among them. Sometimes, the foreign trade relations bring the exporting country under the pressure of importing country which would edicit certain political or otherwise gain from the former.


INFUSION OF NEW IDEAS & TECHNOLOGY:

Closure of borders for importers brings only short-term benefits. But in the long-run it creates suffocation, brings quality down owing to lack of competition, increases the wealth of sellers at the cost buyers. Since quality becomes substandard foreign markets are lost. The ban on imports not only gives way to smuggling inflicting losses to the exchequer and if the GOVT manages to curb it, the country is deprived of the new ideas, technology, innovation, and now techniques that are taking place in the developed countries creating further digital divide between poor and rich countries.