Question

Difference between international business and international trade

Answer 1

$\underline{\underline{\Huge\mathfrak{Difference:-}}}$

INTERNATIONAL TRADE :

DEFINITION : International trade refers to the exchange of goods and services across the international boundaries of different countries.

SCOPE : The scope is narrow as it is limited to countries' borders.

IMPLICATIONS: It involves the movement of finished goods and raw material as exports and imports across countries.

INTERNATIONAL BUSINESS

DEFINITION : International business is the movement of capital , technology and various intellectual properties such as trademarks, copyrights etc.

SCOPE : The scope is wider than International trade.

IMPLICATIONS : International business involves the movement of goods and services, emigration and immigration of human capital, and exchange of technology, technical know-how, copyrights and trademarks.

Answer 2

✨International business includes all commercial transactions, private and governmental, between two or more countries. These transactions include sales, investments and transportation whereas, international trade refers to the exchange of goods and services between two or more countries or their nationals.