Difference Between Domestic & International Business.
Answers
Answer:
Domestic business refers to the business where economic transactions are conducted within the geographical boundaries of the one country. International business refers to the business where economic transactions are conducted across border with several countries in the world
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Explanation:
1. Domestic Business :
Domestic business refers to the business where economic transactions are conducted within the geographical boundaries of the one country. The buyer and seller in domestic business belong to same country. It is is limited to territory. In domestic business it is very easy to conduct business research. The nature of customers in domestic business is homogeneous. In this currency of parent/home country is used for doing business.
2. International Business :
International business refers to the business where economic transactions are conducted across border with several countries in the world. The buyer and seller in international business belong to different country. It is is quite wide. In international business, business research is very expensive and hard to conduct. The nature of customers in international business is heterogeneous. In this different types of currencies of different countries are used for doing business.