All the nations in the world are either trying to show their dominance in a certain field or are moving towards being self-dependent and this encouraged the production of several products locally. A number of people tend to believe that buying a local made product is always considered better than buying those made in some other nation. I am completely aligned with this belief.
To begin with, locally produced goods provide user with, if not better, comparable quality product to one of the most popular products produced in some other nation at a considerably low cost. For example, herbal products produced in my country cost nearly 50% less than the ones produced outside my country. The major reason for this difference in the cost is import duty, which is imposed on the actual cost of the product while importing the product from other nation. In addition, the shelf life of a few edible products is increased by adding preservatives that would protect the product while it is being transported.
Apart from this, spending the money for products manufactured or produced locally will also give boost to the nation’s economy which in turn would strengthen the local currency in global markets. Also, If the demand of the local products is increased, employment in the nation would also increase and this change will eventually reduce the unemployment rate.
To conclude, foreign products might look appealing to a few, but buying local products is beneficial for an individual as well as for the country’s economy.
All the
nations
in the world are either trying to
show
their dominance in a certain field or are moving towards being self-dependent and this encouraged the production of several
products
locally
. A number of
people
tend to believe that buying a
local
made
product
is always considered better than buying those made in
some
other
nation
. I am completely aligned with this belief.
To
begin
with,
locally
produced
goods
provide user with, if not better, comparable quality
product
to one of the most popular
products
produced
in
some
other
nation
at a
considerably
low
cost
.
For example
, herbal
products
produced
in my country
cost
nearly
50% less than the ones
produced
outside my country. The major reason for this difference in the
cost
is import duty, which
is imposed
on the actual
cost
of the
product
while importing the
product
from other
nation
.
In addition
, the shelf life of a few edible
products
is increased
by adding preservatives that would protect the
product
while it is
being transported
.
Apart from this, spending the money for
products
manufactured or
produced
locally
will
also
give boost to the
nation’s
economy which in turn would strengthen the
local
currency in global markets.
Also
, If the demand of the
local
products
is increased
, employment in the
nation
would
also
increase and this
change
will
eventually
reduce
the unemployment rate.
To conclude
, foreign
products
might look appealing to a few,
but
buying
local
products
is beneficial for an individual
as well
as for the country’s economy.