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Identify and explain the concept from the given illustration: Maharashtra purchased wheat from Punjab. - Economics

Short Note

Identify and explain the concept from the given illustration:

Maharashtra purchased wheat from Punjab.

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Solution

Concept: Internal trade

Explanation:

  1. The buying and selling of goods and services within the boundaries of a nation are referred to as ‘Internal Trade’ or ‘Domestic Trade’ or ‘Home Trade’.
  2. Hence, this illustration relates to the concept of ‘internal trade’ as Maharashtra purchased wheat within the country i.e. Punjab.
Concept: Internal Trade
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APPEARS IN

Balbharati Economics 12th Standard HSC Maharashtra State Board
Chapter 10 Foreign Trade of India
Exercise | Q 2. (2) | Page 98
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