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Distinguish between: Bilateral and Multi-lateral trade - Economics

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Question

Distinguish between:

Bilateral and Multi-lateral trade

Distinguish Between
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Solution

  Bilateral Trade Multilateral Trade
1. It is a trade agreement between two countries. It is a trade agreement among more than two countries.
2. This is an agreement that provides equal opportunities to both countries. This is an agreement that provides equal opportunities to all the member countries in the international market.
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Chapter 3: Liberalisation, Privatisation and Globalisation: An Appraisal - Exercise [Page 53]

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NCERT Economics - Indian Economic Development [English] Class 12
Chapter 3 Liberalisation, Privatisation and Globalisation: An Appraisal
Exercise | Q 6.2 | Page 53
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