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Question
Distinguish between Internal trade and International trade.
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Solution
| Sr. No. | Basis | Internal trade | International trade |
| 1. | 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. |
| 2. | Countries Involved | Internal trade is involved in only one country. | International trade has involved a minimum of two countries. |
| 3. | Currency | Payments are made and received in-home currency only. | Payment is made and received in mutually agreed foreign currency only. |
| 4. | Risk | Internal trade is involved in a lesser degree of risk. | International trade is involved a high degree of risk, such as transit risk, risk of fluctuation of currency and demand, etc. |
| 5. | Government Restrictions | Internal trade is not restricted, except for a few goods. | International trade is strictly monitored by the government, and prior approval is required before international transactions. |
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