Distinguish between the following.

Domestic and International Business.

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Solution

Basis of Difference Domestic Business International Business

Meaning Trade that occurs within the national boundaries of a country. Trade between two or more countries.

Degree of mobility Incidence of factor mobility is high within a country. Incidence of factor mobility is low across national boundaries.

Nature of market Markets are homogeneous due to prevalence of similar tastes and preferences across markets. Markets are heterogeneous due to differences in customers, preferences, languages, etc.

Regulations and policies Subject to domestic rules, laws or taxation systems. Subject to rules, regulations and laws of many countries.

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Basis of Difference	Domestic Business	International Business
Meaning	Trade that occurs within the national boundaries of a country.	Trade between two or more countries.
Degree of mobility	Incidence of factor mobility is high within a country.	Incidence of factor mobility is low across national boundaries.
Nature of market	Markets are homogeneous due to prevalence of similar tastes and preferences across markets.	Markets are heterogeneous due to differences in customers, preferences, languages, etc.
Regulations and policies	Subject to domestic rules, laws or taxation systems.	Subject to rules, regulations and laws of many countries.