Question

International trade meaning and definition

Answer 1

International trade is the exchange of capital, goods, and services across international borders or territories. It is the exchange of goods and services among nations of the world. In most countries, such trade represents a significant share of gross domestic product (GDP).

DEFINITION:
The exchange of goods or services along international borders. This type of trade allows for a greater competition and more competitive pricing in the market. The competition results in more affordable products for the consumer. The exchange of goods also affects the economy of the world as dictated by supply and demand, making goods and services obtainable which may not otherwise be available to consumers globally.

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Answer 2

Answer:

International or external business can be defined as those business activities that take place beyond the geographical boundaries of a country. In other words buying and selling of goods and services between two countries are called external trade.

Explanation:

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