SIMILARITIES AND DIFFERENCES BETWEEN INTERNATIONAL TRADE AND INTERNAL TRADE

SIMILARITIES AND DIFFERENCES BETWEEN INTERNATIONAL TRADE AND INTERNAL TRADE

  •  Similarities
  •  Both international trade and internal trade involve the use of money as a medium of exchange.
  •  They both involved a degree of specialization between the trading partners, since specialization causes exchange.
  • Both forms of trade involve the activities of middlemen.
  • Both trades involve the buying and selling of goods and services.
  •  Both of them arise due to inequitable distribution of natural endowments and production resources.
  •  Differences types of trade
  • Foreign trade involves the exchange of goods and services across national frontiers while internal trade involves the exchange of goods within the borders of a country.
  • In foreign trade, buyers and sellers use different currencies whereas buyers and sellers in home trade use the same type of currency.
  • There is possibility of restriction – tariffs, import duties, export duties, quotas, embargoes – when goods are exchanged across national boundaries while this does not occur in home trade.
  •  There are differences in systems of weighing and measuring in one country vis-a-vis another. A country has only one system of such weighing and measuring.
  •  Differences in transport cost due to distance between buyers and sellers, documentation requirement, need for insurance in respect of foreign trade distinguish foreign trade from home trade.
  •  There are also differences in legal systems and culture under international trade but the legal system are the same in domestic trade.
  •  Foreign trade requires knowledge of new languages and interpretations while in domestic trade, a common language is used.


148. NEWCASTLE DISEASE
149. BACTERIA DISEASES
150. ANTHRAX
151. BRUCELLOSIS
152. TUBERCULOSIS
153. FUNGAL DISEASES

Top US Trading Partners
Top US Trading Partners

PROTOZOAN DISEASES
155. TRYPONOSOMIASIS

159. TAPE WORM
160. ROUND WORM OF PIGS
161. LIVER FLUKE
162. ECTO PARASITES
163. TICK
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