Question

Differentiate between international trade and international business.

Answer 1

Answer:

Difference between international Business and international trade :  

International business is wider term than international trade. International trade comprising only export and import of the goods between two countries .International trade is a part of International business.

International business includes International trade(exchange/ buying and selling of goods)  + personnel + technology + international travel and tourism + licensing and franchising + transportation + communication + banking + warehousing +  advertising + foreign investments +  Overseas production.

International business is an important part of economic activities of any nation. Because no country can self sufficient in all aspects. International business involve commercial activities that cross National borders.  

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Answer 2

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