Which of the following is true in relation to internal trade?

No custom duty or import duty is levied on such trade as goods are part of domestic production and are meant for domestic consumption

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Generally, payment has to be made in the legal tender of the country or any other acceptable currency

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Internal trade can be classified into two broad categories

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All of the above

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Solution

The correct option is A All of the above
Buying and selling of goods and services within the boundaries of a nation are referred to as internal trade.
No custom duty or import duty is levied on such trade as goods are part of domestic production and are meant for domestic consumption.
Generally, payment has to be made in the legal tender of the country or any other acceptable currency.
Internal trade can be classified into two broad categories viz., (i) wholesale trade and (ii) retail trade.

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