Question

differentiate between foreign trade and domestic Trade?​

Answer 1

Answer:

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Explanation:

Home trade refers to the trade within the borders of the country. Foreign Trade refers to the trade between two or more countries. There is no exchange of currencies takes place in the Home trade because there is a same currency in the country. ... Foreign Trade leads to the economic interdependence between the countries.

Answer 2

Answer:

Foreign trade is a trade which happens between countries they can be bilateral or multilateral....

Bilateral means which happens between two countries and multilateral means which happens between more than 2 countries.

and the foreign trade can be of export or import or entrepot of goods..

export means giving goods to other countries from our country in exchange of currency.

import means getting goods from other countries for our country in exchange of currency.

entrepot means importing goods from country or countries and exporting the same goods to other country or countries.

In foreign trade exchange of currency takes place

domestic trade means trade which happens within the border of that country. here exchange of currency doesn't take place as we use the same currency.

When we buy goods of domestic only gst us imposed no tariffs or quotas wherelse for foreign traded goods have either tariffs or quotas or both.

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