Download App

FOREIGN TRADE — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsFOREIGN TRADE3 Marks
Question
Explain the difference between domestic (Internal) trade and international trade.
✓

Answer

1. Currencies: Domestic trade uses one currency; International trade involves multiple currencies.
2. Mobility of Factors: Factors are more mobile within a country than across borders.
3. Legal Systems: Domestic trade follows one set of laws; International trade involves laws of different nations and international treaties.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "3 Marks Each" from FOREIGN TRADE→FOREIGN TRADE — all question types→Economics STD 12 Commerce question papers→Gujarat Board STD 12 Commerce question papers→Gujarat Board question paper generator→

Similar questions

Why and how does $RBI$ promote banking activities in India?
→
State the criteria for defining/declaring a region as a town or a city.
→
Explain any three reasons for international trade.
→
State the reasons for high infant-mortality rate in India.
→
The Indian method of defining poverty on the basis of consumption of minimum calories is deficient. Explain.
→
Discuss India’s share in world trade.
→
‘More the merrier’. Explain.
→
Explain issue of ‘double coincidence of wants’ and mutual adjustment of wants.
→
Write short note: Electricity.
→
Which are the important parameters of Human Development Index $(HDI)$ and Human Poverty Index $(HPI)?$
→