Multiple Choice Questions
Which of the following terms is used to describe trade between two or more countries?

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Internal trade

International trade

External trade

Local trade

answer is B.

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Detailed Solution

The term international trade describes the trade between two or more countries.
International trade is important because no country has all the resources which are needed by it for its development. International trade has increased rapidly in recent decades with the advancement in technology and transportation. It has also become the indicator to measure the economic prosperity of a country. The more international trade a country does, the most it is considered economically prosperous. Import and export are the two main components of international trade.

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