Question

Internal trade and international trade

Answer 1

Internal Trade

(1) It is also known as local or domestic trade

(2) Internal trade is carried within the domestic territory of a country.

(3) Land transport plays a vital role in this trade.

(4) It is mostly based on the nation's currency.

(5)It helps to promote balanced regional growth in the country.

(6)Example- Tea from Assam, Coffee from Karnataka, Spices from Kerala, Minerals from Jharkhand, West Bengal, Orissa belt are supplied to different parts of the country

International Trade

(1) It is also known as external trade.

(2) This trade is carried on between two or more countries.

(3) Ocean transport plays a vital role in this trade.

(4) It is carried on foreign currency.

(5) It leads to the rapid economic progress of the country.

(6) Example - India supplies Iron ore to Japan.