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Distinguish Between the Following Bilateral and Multi-lateral Trade - Economics

Distinguish Between

Distinguish between the following

Bilateral and Multi-lateral trade

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Solution

(ii)

Bilateral Trade

Multilateral Trade

a)

It is a trade agreement between two countries

It is a trade agreement among more than two countries.

b)

This is an agreement that provides equal opportunities to both the countries.

This is an agreement that provides equal opportunities to all the member countries in the international market

Concept: Globalisation
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APPEARS IN

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