14. (a) The exchange of goods with a commodity is known as : (A) Double coincidence of wants (B) Local trade (C) Domestic trade (D) Foreign trade.
Answers
Answer :
(D) Foreign trade
Explanation :
D. Foreign trade is the correct answer.
Foreign trade refers to the exchange of goods and services between countries. It includes exports, which are goods and services that a country sells to other countries, and imports, which are goods and services that a country buys from other countries. When a country exchanges goods with another country, it is known as foreign trade. This can include the exchange of commodities, such as raw materials and agricultural products, as well as manufactured goods and services.
- A. Double coincidence of wants is incorrect. It refers to the requirement for both parties in a trade to have what the other party wants in order for trade to take place. In other words, it is the condition that must be met for a trade to happen.
- B. Local trade is incorrect. It refers to the exchange of goods and services within a specific region or local area, usually within the same country.
- C. Domestic trade is incorrect. It refers to trade within the domestic or national borders of a country, which includes both foreign trade and local trade. It is the exchange of goods and services within the same country and it can be between different regions or states.
In summary, Foreign trade refers to the exchange of goods and services between countries. It includes exports and imports and it is different from domestic trade, which is the exchange of goods and services within the same country, and local trade, which is the exchange of goods and services within a specific region or local area.
To know more about the concept please go through the links :
https://brainly.in/question/38847793
https://brainly.in/question/48100150
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