SIMILARITIES AND DIFFERENCES BETWEEN INTERNATIONAL TRADE AND INTERNAL TRADE
- 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
153. FUNGAL DISEASES
159. TAPE WORM
160. ROUND WORM OF PIGS
161. LIVER FLUKE
162. ECTO PARASITES
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