Question

Difference between Internal Trade and Foreign Trade.

Answer 1

Internal Trade	Foreign Trade
It refers to the trade within a country.	It refers to trade between two or more countries.
It involves the exchange of goods and services within the country.	This involves the exchange of goods and services between two or more countries.
In-home trade there is no exchange of currencies.	In foreign trade exchange of currencies of different countries takes place.
In-home trade the risk of transportation is very less when compared to foreign trade.	In international trade, the goods are to be transported to long distances through various modes of transport, and hence the risk of transportation is more.
In-home trade only the laws prevailing in that country have to be followed.	In foreign trade, the laws, customs, and regulations of different countries are to be followed.
The aim of home trade is to provide essential goods and services economically.	The aim of foreign trade is to raise the standard of living of the people.