Question

What Is meant by trade?What is the difference between international and local trade

Answer 1

Trade is the exchange of ownership of commodities in a commercial transaction, which can be goods based or cash based.

Trade that takes place between two countries is referred as international trade. However, trade that takes place between two cities,states or between the boundaries of a country is referred as domestic trade. For domestic trade to take place only the domestic country's rules and regulations are needed to be taken care of. However, in case of international trade the regulations of both the countries come into action. There maybe different tariffs for domestic and international trade.

Answer 2

Trading is a commercial method for doing business either locally or internationally.

Local Trade International Trade

1. This type of trade is. 1. This type of trade
done locally i.e., within is done outside our
the area or country in locality or in differe
which we live. nt country.

2. This type of trade 2. This type of trade
does not requires huge requires lots of
amount of capital. capital.

3. Port facilities are 3. Port facilities are
not much required. It necessary and these
can be done by are important source
roadways transportation. of transportation.