Which one 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

International Trade is the term used to describe trade between two or more countries. International trade is a leading indicator of a country's economic well-being. The exchange of products and services between two or more countries is known as international trade. Land, air, and water are all viable options for international trade. International trade serves as a measure of a country's economic health. The phrase "favourable balance of trade" refers to a scenario in which exports outweigh imports in value. Trade is made up of two parts: imports and exports. The difference between a country's export and import is the trade balance.

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