In modern times, what is the basis of the worlds economic organisation and is related to the foreign policy of nations?
Answer & explanation
Correct answer: option 3
The correct answer is Option 3: Trade
In the context of global economic geography and international relations, trade is the fundamental mechanism upon which the world's economic organization is built. Nations form trade blocs, enter into Free Trade Agreements (FTAs), and establish supply chains that define their economic alliances.
NCERT: In modern times, trade is the basis of the world’s economic organisation and is related to the foreign policy of nations. With well developed transportation and communication systems, no country is willing to forego the benefits derived from participation in international trade.