What is the difference between domestic and international goods
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Difference Between Domestic and International Business
June 15, 2016 By Surbhi S 2 Comments
Trade refers to the exchange of goods and services for money, which can be undertaken within the geographical limits of the countries or beyond the boundaries. The trade which takes place within the geographical boundaries of the country is called domestic business, whereas trade which occurs between two countries internationally, is called international business.
Entities engaged in international business often face more difficulties than the entities which conduct domestic business. Although international business enjoys large customer base as they operate in multiple countries. Here is an article which compiles the important differences between domestic and international business.
Content: Domestic Business Vs International Business
Comparison Chart
Definition
Key Differences
Conclusion
Comparison Chart
BASIS FOR COMPARISONDOMESTIC BUSINESSINTERNATIONAL BUSINESSMeaningA business is said to be domestic, when its economic transactions are conducted within the geographical boundaries of the country.International business is one which is engaged in economic transaction with several countries in the world.Area of operationWithin the countryWhole worldQuality standardsQuite lowVery highDeals inSingle currencyMultiple currenciesCapital investmentLessHugeRestrictionsFewManyNature of customersHomogeneousHeterogeneousBusiness researchIt can be conducted easily.It is difficult to conduct research.Mobility of factors of productionFreeRestricted
June 15, 2016 By Surbhi S 2 Comments
Trade refers to the exchange of goods and services for money, which can be undertaken within the geographical limits of the countries or beyond the boundaries. The trade which takes place within the geographical boundaries of the country is called domestic business, whereas trade which occurs between two countries internationally, is called international business.
Entities engaged in international business often face more difficulties than the entities which conduct domestic business. Although international business enjoys large customer base as they operate in multiple countries. Here is an article which compiles the important differences between domestic and international business.
Content: Domestic Business Vs International Business
Comparison Chart
Definition
Key Differences
Conclusion
Comparison Chart
BASIS FOR COMPARISONDOMESTIC BUSINESSINTERNATIONAL BUSINESSMeaningA business is said to be domestic, when its economic transactions are conducted within the geographical boundaries of the country.International business is one which is engaged in economic transaction with several countries in the world.Area of operationWithin the countryWhole worldQuality standardsQuite lowVery highDeals inSingle currencyMultiple currenciesCapital investmentLessHugeRestrictionsFewManyNature of customersHomogeneousHeterogeneousBusiness researchIt can be conducted easily.It is difficult to conduct research.Mobility of factors of productionFreeRestricted
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