AnxiPalm
11-20-2007, 07:26 PM
In today’s fast pace of life and cut throat business practices, any type of ‘Exchange’, whether it be a money exchange, stock exchange or exchanges in goods and services etc, has a lot of advantages for both individuals and nations. The most important advantage of an exchange is that it benefits both the parties by increasing their total utility and imminent needs. Exchange has helped in making those things available, which we cannot produce or which are in short supply. On the other hand, exchange has also helped in the expansion of the market.
Exchange benefits the nations by bringing closer relationship and understanding among them. When exchange is done between countries, the countries become dependent on one-another. This helps in encouraging international peace and cooperation. When two nations cooperate with one another it is the Regulatory affairs experts from both the countries who actually meet together to thrash out the terms of the exchange.
Consider specialization and division of labour in society. Literally speaking, production these days is done mainly through exchange of ideas and concepts. Because of exchange it has been possible to go for large-scale production. By producing in bulk and then exchanging, the countries have been able to increase their national income. The degree of exchange encourages division of labour and specialization, which ultimately leads to increase in productivity and reduction in total costs.
Availability of necessary commodities normally takes place through an exchange. It helps in arranging for a wide variety of commodities and thus increases the level of consumption. In order to produce large quantities for the purpose of exchange, better and maximum utilization of resources has become possible. This also helps in bringing about a higher standard of living. This in turn has helped in countries economic development.
Exchange benefits the nations by bringing closer relationship and understanding among them. When exchange is done between countries, the countries become dependent on one-another. This helps in encouraging international peace and cooperation. When two nations cooperate with one another it is the Regulatory affairs experts from both the countries who actually meet together to thrash out the terms of the exchange.
Consider specialization and division of labour in society. Literally speaking, production these days is done mainly through exchange of ideas and concepts. Because of exchange it has been possible to go for large-scale production. By producing in bulk and then exchanging, the countries have been able to increase their national income. The degree of exchange encourages division of labour and specialization, which ultimately leads to increase in productivity and reduction in total costs.
Availability of necessary commodities normally takes place through an exchange. It helps in arranging for a wide variety of commodities and thus increases the level of consumption. In order to produce large quantities for the purpose of exchange, better and maximum utilization of resources has become possible. This also helps in bringing about a higher standard of living. This in turn has helped in countries economic development.