I (Meaning and importance of Exports) Unit Structure

participating countries. 
3. Furthers technological development 
By specialization, it lowers the prices of goods and services 
all over the world. Consequently it stimulates their consumption and 
demand for more and better goods, which causes further 
specialization and technological developments. 
4. Provides higher standard of living 
International marketing provides better life and welfare to 
people in different countries. It provides goods which can not be 
produced in the home country. This raises the standard of living of 
the people and social welfare. 
5. Reduces dangers of monopolistic exploitation 
By ensuring free competition, international marketing 
reduces the dangers of monopolistic exploitation of consumers by 
the home producers; exploitation of one country by another country 
is also difficult since there are numerous suppliers in international 
markets. 
6. Ensures optimum use of resources 
International marketing enables to make optimum utilization 
of resources. Countries having surplus resources or production 
can export to other markets. 

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7. Builds cultural relations 
International marketing changes the quality of life of people. 
It not only exchanges goods and services among nations but also it 
develops closer social and cultural relations between different 
nations. 
8. Bridges the technological gap 
It makes possible to transfer technology and other 
assistance from the developed nations to the developing ones and 
as such, it narrows the gap between the developed and developing 
countries. 
9. Bring international co-operation and world peace 
International marketing brings countries closer due to trade 
relations. Because of interdependence of countries, cordial 
relations are maintained and this ensures world peace.