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Q.

[[1]] involves the exchange of commodities between countries.


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Detailed Solution

International trade involves the exchange of goods and services between different countries.
Trade refers to the exchange of goods and services for money. International trade refers to the exchange of commodities and services across different countries. International trade helps the economy to grow. It enables the exchange of ideas, knowledge, goods, and services across nations. International trade has 2 components - Exports and Imports. Trade is positive if the exports exceed imports. At the same time, trade is negative when its imports exceed exports.
 
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