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What distinguishes international trade from domestic trade?
  • a)
    International trade involves the exchange of goods and services across borders.
  • b)
    International trade is less costly due to fewer restrictions.
  • c)
    Domestic trade is restricted by tariffs and legal hassles.
  • d)
    Domestic trade focuses on factors of production.
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
What distinguishes international trade from domestic trade?a)Internati...
International trade is characterized by the exchange of goods and services across national boundaries, which sets it apart from domestic trade. It often involves additional costs and complexities due to tariffs, legal systems, and distance between nations.
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What distinguishes international trade from domestic trade?a)International trade involves the exchange of goods and services across borders.b)International trade is less costly due to fewer restrictions.c)Domestic trade is restricted by tariffs and legal hassles.d)Domestic trade focuses on factors of production.Correct answer is option 'A'. Can you explain this answer?
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