Sarthaks Test
0 votes
36 views
in Business Studies by (64.1k points)
What is meant by internal trade?

1 Answer

0 votes
by (106k points)
selected by
 
Best answer

Internal trade refers to the buying and selling of goods and services within the domestic territory of a country. It is known as internal trade. In other words, the process of exchanging goods and services within the national boundaries of a country is called internal trade. Purchases of goods from a local shop, a mall or an exhibition are all examples of internal trade. The government does not levy customs or import duties on goods and services that are produced within the country for meeting the domestic demand. Internal trade can be classified into the following two categories:

  • Retail Trade: It refers to the buying and selling of goods in small quantities for final consumption.
  • Wholesale Trade: It refers to the buying and selling of goods in bulk, i.e., the exchange of large quantities of goods meant for resale in local markets.

Related questions

0 votes
1 answer
0 votes
1 answer
0 votes
1 answer
asked Feb 19, 2020 in Business Studies by Sima01 (57.1k points)

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...