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What is an international business? How is it different from domestic business.

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Differences between International Business and Domestic Business

  Domestic Business   International     Business
Both the buyers and the sellers are from the same country Buyers and sellers are from different countries
Various stakeholders such as suppliers, employees, middlemen, shareholders and partners are usually citizen of the same country Various stakeholders such as suppliers, employees, middlemen, shareholders and partners are from different nations
The factors of production Like capital, labour and raw material can be moves freely within the country There are restriction on the free mobility of factors of production across countries
Domestic markets are relative more homogenous in nature  International markets lack homogeneity due to differences, in languages, preferences customs etc across markets.
Business systems and practices are relatively more homogeneous within a country Business systems and practices vary considerably across countries. 
It has to face the political system and risk of only one country Different countries have different forms of political systems and risk
Business laws, regulations and economic policies are uniformly applicable within a country Business laws, regulations and economic policies are differ widely among nations.
Currency of domestic country is used They use different currencies for business transactions.

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