Final answer:
True. Without foreign trade, many things you buy would cost more or not be available at all.
Step-by-step explanation:
The statement is true. Without foreign trade, many things you buy would either cost more or not be available at all. International trade allows countries to specialize in producing and exporting the goods and services they can produce most efficiently, while importing goods and services that other countries can produce more efficiently.
This increases overall productivity and lowers prices for consumers.
For example, if a country produces a large quantity of a certain good, they can export it to other countries where there is demand for it.
This allows the country to earn foreign exchange and strengthen their economy. On the other hand, if a country does not have the resources or capability to produce certain goods, they can import them from other countries. This provides consumers with a greater variety of products and services to choose from.
In conclusion, foreign trade is essential for a country's economic development and the availability of goods and services at reasonable prices.