Distinguish between Internal trade and International trade.
|Basis||Internal trade||International trade|
|Meaning||Internal trade refers to the buying and selling of goods within the geographical limits of a country.||International trade refers to the buying and selling of goods beyond the geographical limits of a country.|
|Countries Involved||Internal trade is involved in only one country.||International trade is involved minimum of two countries.|
|Currency||Payments are made and received in-home currency only.||Payment is made and received in mutually agreed foreign currency only.|
|Risk||Internal trade is involved in less degree of risk.||International trade is involved high degree of risk, such as transit risk, risk of fluctuation of currency and demand, etc.|
|Government Restrictions||Internal trade is not restricted, except on a few goods.||International trade is strictly monitored by the government and prior approval is required before international transactions.|
Concept: Internal Trade
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