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Q.

[[1]] is the exchange of goods and services between two countries in the international market.


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Detailed Solution

Foreign trade is the exchange of goods and services between two countries in the international market.
Foreign trade is the reciprocal exchange of commodities and services across international boundaries. There are various kinds, for instance, import and export. For the country's economy, they are crucial ideas. Based on these ideas, nations establish goals. A foreign trade strategy is the collection of choices, actions, etc., that they make to accomplish their objectives. The international division of labour's oldest and most effective form is still foreign trade in products and services. Trade with foreign nations benefits all participants: businesses expand their markets, improve revenue, and create more jobs.
 
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