What is local trade and international trade?

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Solution

The exchange of goods among people state and countries is called trade. When trade takes between states, cities or villages within a city, it is known as local trade which does not impact the value of the national currency. whereas when trade takes place between two countries, it is known as international trade which impacts the value of national currency.

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Answer the following questions in about 30 words.

(i) State any three merits of roadways.

(ii) Where and why is rail transport the most convenient means of transporation?

(iii) What is the significance of the border roads?

(iv) What is meant by trade? What is the difference between international and local trade?

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